EUR/USD has thus far failed to break the resistance at 1.3319. Hourly supports for a shortterm correction are given by 1.3131 (intraday high) and 1.3092 (intraday low).

In the medium-term, the recent price action from 1.2746 (04/04/2013 low) is viewed as a corrective phase within a larger downtrend. However, the recent new high above the May peak indicates a persistent short-term buying interest. Key resistances are at 1.3319 and 1.3520 (13/02/2013 high).

Daily Technical Report