Nick Nasad
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EUR/USD - Will Recent Resistance Pivot Give Way?

  • What happens here as there is a horizontal pivot here at 1.3275 which has been respected as resistance during the last 2 sessions?
  • There is also an upward sloping support trendline. I break down through that trendline would likely mean a pullback to the 1.3215 area. 
  • The fib levels have been working pretty well as the 38.2% and 50% were used as resistance and support levels respectively.
  • A push above 1.3275, mean we run up against the 61.8% level which can act as an initial resistance, but a break out from the most recent pivot will probably pick up a bit of momentum and may look to reach the 1.3335 area and even 1.34.

- Nick