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EUR/USD Technical Analysis: Support Sub-1.27 Exposed

EUR/USD Technical Analysis: Support Sub-1.27 Exposed

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical AnalysisPrices breached support at a rising trend line set from early November 2012, a barrier reinforced by the 61.8% Fibonacci expansion at 1.2819. Sellers now aim to challenge the 76.4% level at 1.2678. The 1.2819 mark has been recast as near-term resistance.

dailyclassics_eur-usd_body_Picture_10.png, EUR/USD Technical Analysis: Support Sub-1.27 Exposed

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.