Euro - Trading At An Important Level

The Euro vs the U.S. Dollar has been rallying sharply over the past few days but has not bumped up against a powerful technical resistance level.  This level is comprised of several factors. The low from last July which was once support should now act as resistance. Today's high coincides with a 50% retracement level of points A to C and a .38% retracement of points B to C. This combination of events is a powerful resistance zone in the land of Fibonacci traders so don't be surprised if we start to see some selling come into the Euro at these levels.