EUR/USD Technical Analysis: Trend Line Support Holds
EUR/USD Technical Analysis– Prices 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.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.