EUR/USD: Short-Term Corrective Phase or Medium-Term Reversal?
EUR/USD is challenging the support area defined by 1.3298 and the low of its rising channel (see also the potential short-term declining channel). The short-term technical configuration is negative as long as prices remain below the resistance at 1.3345 (intraday high).
A break of the key support at 1.3190 is needed to suggest a more significant medium-term reversal.
The region between 1.3417 and the annual high is expected to see a fair degree of resistance and should likely offer a reasonable short entry opportunity in the near future.