EUR/USD: Correcting After Sharp Rise
EUR/USD weakened yesterday close to the key resistance at 1.3172 (see also declining trendline). However, the broken symmetrical triangle calls for further strength towards 1.3320. An hourly support is at 1.3016 (intraday low).
Even though the long-term trend is still negative (see long-term declining trendline linking the May 2011 high with the August 2011 high), the recent improvements suggest that the rise that started in July 2012 is not over.