Technical Analysis: EUR/USD 2012.04.16

April 16, 2012 11:36

The pair did not manage to hold above the 100-Day SMA and dropped back to the 1.3000 support. A clear break below this level would confirm the bearish bias and accelerate declines towards the 1.2625 low. However, should the pair hold above 1.3000, we could see a new attempt to break above the 100-Day SMA and ultimately reach the 1.3485 resistance.

Edward Smith, technical analyst of company Admiral Markets.

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