Technical Analysis: EUR/USD 2012.03.13

  The pair is trading in a range, limited by the 50-Day SMA at 1.3100 and the 100-Day SMA at 1.3240. Breaking and consolidating below the 50-Day SMA would confirm declines ahead of the 1.2625 low. A clear break above the 100-Day SMA would confirm the uptrend towards the 1.3485 resistance or higher ahead of the 200-Day SMA by 1.3670. Both options have almost equal probabilities.    

Edward Smith, technical analyst of company Admiral Markets.

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