EUR/USD: Pushing Higher
EUR/USD continues to rise, breaking the resistance at 1.3281 (see also the declining trendline). Next resistances can be found at 1.3345 (intraday high) and 1.3410 (23/08/2013 high). Hourly supports are at 1.3281 (previous resistance) and 1.3230 (10/09/2013 low).
A potential medium-term top has been made at 1.3452, favouring a medium-term bearish bias. However, the lack of follow-through after the break of the support at 1.3190 suggests thus far limited medium-term downside risks. A key support stands at 1.2994.