Euro May Rise to 13-Month High on Fibonacci: Technical Analysis
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The euro may rise to a 13-month high against the dollar after crossing a key Fibonacci level, according to GaitameOnline Co.
The shared currency closed at $1.3992 yesterday, above the $1.3958 level that represents a 50 percent Fibonacci retracement of the currency’s decline from $1.6038 on July 15, 2008, to $1.1877 on June 7, 2010.