Technical Analysis: EUR/USD 2012.04.12

April 12, 2012 11:51

  The pair is trying to break and hold above the 100-Day SMA by 1.3130. Should it succeed, the uptrend will likely continue ahead of the 1.3485 resistance. Otherwise, we could see a setback towards the 1.3000 support, with a break below to confirm the bearish bias and accelerate declines towards the 1.2625 low.    

Edward Smith, technical analyst of company Admiral Markets.

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