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Forex4you Technical Analysis 09 January 2013

EUR/USD: boxed in

The EUR/USD pair is consolidating in a narrow range today although the mid-term trend remains up. A break above the 1.3093 highs could lead to rally to a tight group of pivots at 1.3120, with a break above those levels necessary for a reassertion of the bull trend. A move below the 1.3055 lows could see a move down to the 1.3000 lows, whilst a major trend-line provides support at around 1.2970.

Analysis by: Joaquin Monfort

Forex4you analyst

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