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EUR/USD Technical Analysis: Trend Line Support Holds

EUR/USD Technical Analysis: Trend Line Support Holds

2013-07-09 04:12:00
Ilya Spivak, Head Strategist, APAC
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EUR/USD Technical AnalysisPrices are testing support at a rising trend line set from mid-November 2012, now at 1.2825. A break beneath that sees support at 1.2805, the July 5 low, followed by the May 17 bottom at 1.2795. Near-term resistance is at 1.2949, the 23.6% Fibonacci retracement.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Trend Line Support Holds

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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