EUR/USD: technical analysis – September 11, 2012

Eurodollar is still in a short-term up-trend and it will probably continue higher, with trend-line resistance at 1.2900 possibly providing an upside target. Nevertheless, watch-out for resistance from the 50-day moving average at 1.2835 which could also repulse price. On the downside it would need a break below the 1.2750 mark for the outlook to turn bearish again.

Written by Forex4you