Technical Analysis: EUR/USD 2012.03.20

March 20, 2012 10:25

  The pair broke above the 100-Day SMA by 1.3200. Should it hold on its gains, the uptrend will likely continue towards the 1.3485 resistance or higher ahead of the 200-Day SMA by 1.3630. Meanwhile, a break back below the 100-Day SMA could trigger a setback towards 1.3000, with a break and consolidation below to confirm the bearish bias and accelerate declines ahead of the 1.2625 low.    

Edward Smith, technical analyst of company Admiral Markets.

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