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EURUSD follows trendline up. Currently at 1.3193

|Includes: CurrencyShares Euro Trust ETF (FXE)

The EURUSD (NYSEARCA:FXE) has developed a nice up trend line that currently comes in at the 1.3193.

  • The price has tested the trend line now on 3 separate occasions. A move below line should solicit selling today with the 1.31848 the next target (38.2% retracement). Below that level the 1.3169 area will be eyed with the 50% and the 100 hour MA.
  • On the topside, the 1.3211 was the high price on April 12th. Since then, the price has ventured above the level on 3 separate occasions (including today).