EURUSD burst through major long term resistance at 1.3479/91 and the 200 week moving average at 1.3529 last week, extending the 5 month uptrend and we have now hit our upper target of 1.3690 as hoped. We topped out just above at 1.3711 and a break above here this week then targets 1.3833/37. We could see the market cap here at this stage.

Support today at 1.3555/1.3530 should hold the downside but a break finds very good support at 1.3465/55 and a buying opportunity.





Long term levels

1.3529     200 Week Moving Average

1.3491     Weekly 50% Fibonacci

1.3486     2012 High

1.3479     Last week’s high

1.3378     100 Week Moving Average

1.3381/86  April 2012 High

1.3284     May 2012 High

1.3265     Last week’s Low

1.3150     Weekly 50% Fibonacci

1.3140     October 2012 high

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