Forex4you Technical Analysis 27 April 2012

EUR/USD: Technical Analysis

Eurodollar has found support from the 50-day moving average and begun rallying. Currently it has reached the 1.3210s at the upper line of the down-sloping channel on the hourly chart, where it is consolidating before its next move. It will probably continue higher and reach its target at 1.3265 with upside eventually capped at another trend-line at 1.3295. A move down would target the lower channel line at 1.3150.

Analysis by: Joaquin Monfort
Forex4you analyst

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