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EUR/USD Technical Analysis: Rally Stalls Below 1.33

EUR/USD Technical Analysis: Rally Stalls Below 1.33

Ilya Spivak, Head Strategist, APAC

EUR/USD Technical AnalysisPrices took out resistance at 1.3260 marked by the 76.4% Fibonacci retracement. The bulls now aim to challenge a falling trend line set from February at 1.3330, followed by the June 18 swing high at 1.3416. The 1.3259 mark has been recast as near-term support, with a reversal beneath that initially targeting the 61.8% Fib at 1.3162.

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

dailyclassics_eur-usd_body_Picture_2.png, EUR/USD Technical Analysis: Rally Stalls Below 1.33

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

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