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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9274+0.0012+0.13%
    AUDUSD=X
    0.5518+0.0006+0.10%
    AUDGBP=X
    0.6703+0.0007+0.10%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg