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Technical Analysis: EUR/USD 2012.03.15

March 15, 2012 09:35

  The pair reached 1.3000. A clear break and consolidation below this level would confirm the bearish bias and accelerate declines ahead of the 1.2625 low. However, should the pair hold above 1.3000, we could see a new surge above the 50-Day SMA towards the 100-Day SMA by 1.3220, with a break above to confirm the uptrend towards the 1.3485 resistance or higher ahead of the 200-Day SMA by 1.3650.    

Edward Smith, technical analyst of company Admiral Markets.

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