EUR/USD Breaks Out Of The Range

January 3, 2013 in Chart Alert

Since December 16th EUR/USD has been in a volatile sideways move over 1.3144 and below 1.3308. After continuous attempts to break over 1.3300, the pair failed and the recent drop has broken the sideways channel.

EUR/USD Daily Chart

EUR/USD Daily chart - December 3, 2012

The next trend line support is near 1.3100. The psychological support of 1.3000 ranges should also work near that level but any decisive break of that should bring some more consolidation towards 1.3060. A move to 1.3060 will have the combined support of 38.2% retracement level of the upward move during November 13th, 2012 to December 19th, 2012 and also the support of 55-day EMA.

EUR/USD: Further Support Levels

EUR/USD chart - Next support levels

 

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