EUR/USD Classic Technical Report 07.04.2012

Prices are consolidating below the 23.6% Fibonacci expansion at 1.2612, with the downside capped by the 38.2% level at 1.2562 for now. A break lower exposes the 50% Fib at 1.2522. Alternatively, a push above resistance targets falling trend line resistance set from the June 17 swing high, now at 1.2676.

EURUSD_Classic_Technical_Report_07.04.2012_body_Picture_5.png, EUR/USD Classic Technical Report 07.04.2012

4hr Chart - Created Using FXCM Marketscope 2.0

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

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9335-0.0034-0.36%
    AUDUSD=X
    0.5558-0.002-0.35%
    AUDGBP=X
    0.6753-0.0028-0.42%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg