EUR/USD Technical Analysis– Prices turned lower as expected, snapping the rising trend prevalent since mid-May. Sellers are now testing support at 1.3178 marked by the 38.2% Fibonacci retracement, with a break below that exposing the 50% level at 1.3105. Near-term resistance is at 1.3268, the 23.6% Fib, with a move above that eyeing the 14.6% retracement at 1.3324.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: 1.32 Mark Under Pressure

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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