Technical Analysis: EUR/USD 2012.03.05

March 05, 2012 11:22

The pair dropped below the 100-Day SMA, thus confirming setbacks towards the 50-Day SMA by 1.3065 or beneath ahead of the 1.2625 low. Only a break and consolidation back above the 100-Day SMA would allow continuing the uptrend towards the 200-Day SMA by 1.3700.

Edward Smith, technical analyst of company Admiral Markets.

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