Technical Analysis: EUR/USD 2012.03.07

  The pair almost reached the 50-Day SMA by 1.3070. Breaking below this level and then consolidating below 1.3000 would confirm declines ahead of the 1.2625 low. However, should the pair hold above 1.3000, we could see a rebound back towards the 100-Day SMA by 1.3265, with a clear break above to continue the uptrend towards the 200-Day SMA by 1.3700.    

Edward Smith, technical analyst of company Admiral Markets.

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