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EUR/USD Technical Analysis: Resistance Above 1.32 Eyed

EUR/USD Technical Analysis: Resistance Above 1.32 Eyed

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical AnalysisPrices broke above resistance at 1.3163, the 61.8% Fibonacci retracement. The bulls now aim to challenge 76.4% level at 1.3260, with a further push above that eyeing the June 19 high at 1.3416. The 1.3163 mark has been recast as near-term support, with a reversal back beneath that targeting the 50% retracementat 1.3085.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Resistance Above 1.32 Eyed

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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