Chart of the Day for July 11th, 2013 – EUR/USD
By Ilya Spivak
Prices swiftly overturned yesterday’s trend line break, rebounding from support at 1.2750 marked by the March 27 low. The bulls are now testing resistance at 1.3007, the 38.2%Fibonacci retracement, with a daily close above that exposing the 50% level at 1.3085. Near-term support is at 1.2910, the 23.6% Fib.