Technical Analysis: EUR/USD 2012.03.08

March 08, 2012 08:35

The pair found some support ahead of the 50-Day SMA and managed to hold above 1.3100. Now we look for a rebound back towards the 100-Day SMA by 1.3260, with a break above to confirm the uptrend towards the 1.3485 resistance or beyond ahead of the 200-Day SMA by 1.3680. Meanwhile, breaking below the 50-Day SMA and then breaching the 1.3000 level would extend declines ahead of the 1.2625 low.

Edward Smith, technical analyst of company Admiral Markets.

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