EUR/USD Technical Analysis: Monthly Uptrend Unravels
EUR/USD Technical Analysis– Prices turned lower as expected, snapping the rising trend prevalent since mid-May. Sellers are now testing support at 1.3268 marked by the 23.6% Fibonacci retracement, with a break below that exposing the 38.2% level at 1.3178. Near-term resistance is at 1.3324, the 14.6% Fib, with a move above that eyeing the June 18 high at 1.3415.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE