By Ilya Spivak, Currency Strategist 28 March 2013 10:33 GMT 
EUR/USD Technical Analysis– Prices broke below support at 1.2843, the 23.6% Fibonacci expansion, exposing the 38.2% level at 1.2716. A further drop below that aims for the 50% Fib at 1.2614. The 1.2843 level has been recast as near-term resistance, with a move back above that eyeing a rising channel top at 1.3014.
Daily Chart - Created Using FXCM Marketscope 2.0 --- Written by Ilya Spivak, Currency Strategist for Dailyfx.com To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak To be added to Ilya's e-mail distribution list, please CLICK HERE New to FX? Watch this Video. For live market updates, visit the Real Time News Feed DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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