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EUR/USD Technical analysis

18 may 2012

The single currency pulled back facing resistance at  the downtrend line at 1.3285, breaking through the key support level at 1.3000 If the downtrend persists next major support is expected at year’s bottom 1.2629. In the opposite direction next resistance is expected at 1.3245, followed by 1.3500 and 1.3626 (61,8% Fibo level of the fall from 1.4246 to 1.2624).

Support 1.2975 1.2665 1.1599
Resistance 1.3245 1.3500 1.3626