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EUR/USD Rangebound with Overall Bearish Bias

EUR/USD (a daily chart of which is shown) as of Monday (1/03/2011) has been rangebound within an approximate 500 pip trading range since the 1.2970 low was hit about a month ago. Resistance on this range resides around the 1.3500 price region while support remains in the 1.3000 psychological support area. For more EUR/USD forex technical analysis, please click here.

James Chen, CTA, CMT