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EUR/USD Classic Technical Report 07.04.2012

Ilya Spivak

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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