EUR/USD Technical Analysis: Short Position Held for Now
EUR/USD Technical Analysis – Prices continue to test resistance at a falling trend line set from February, now at 1.3335. Negative RSI divergence argues in favor of a downside scenario. Near-term support is at 1.3188, the 23.6% Fibonacci expansion, with a break below that exposing the 38.2% level at 1.3091. Alternatively, a move above trend line resistance eyes swing highs at 1.3344 and 1.3416.We have entered short.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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