EUR/USD has broken the resistance at 1.2996 (18/03/2013 high, see also the declining trendline). A rise towards the resistance at 1.3107 (15/03/2013 high) is favoured as long as the hourly support at 1.2943 (intraday low) holds. Another support is at 1.2844 (19/03/2013 low).
The technical improvements, exhibited with the rise from 1.2043 (24/07/2012 low) to 1.3711 (01/02/2013 high), are put in doubt with the bearish breakout at 1.2998 (04/01/2013 low). Monitor the key supports at 1.2877 (07/12/2012 low) and 1.2662 (13/11/2012 low).