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MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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EUR/USD: Bouncing

EUR/USD has broken its short-term declining trendline and is now challenging the resistance at 1.3129 (19/04/2013 high). Another resistance can be found at 1.3202 (16/04/2013 high). An hourly support is at 1.3032 (intraday low). Another support lies at 1.2962 (08/04/2013 low).

In the longer-term, a significant top has likely been made at 1.3711 (01/02/2013 high). Therefore, the recent rise from 1.2746 (04/04/2013 low) is seen as a rebound within an underlying downtrend. A key resistance is at 1.3319 (25/02/2013 high).

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