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Forex: EUR/USD Technical Analysis – Rejected at Channel Bottom

Forex: EUR/USD Technical Analysis – Rejected at Channel Bottom

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices found interim support at 1.3420 (38.2% Fib) and are attempting to bounce
  • Near-term resistance is in the 1.3561-77 area (rising channel bottom, 23.6% Fib)
  • Breaking below 1.3420 exposes 1.3293 (50% Fib); we continue to hold short

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

dailyclassics_eur-usd_body_Picture_11.png, Forex: EUR/USD Technical Analysis – Rejected at Channel Bottom

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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