EUR/USD: Challenging The Resistance at 1.3023
EUR/USD is challenging its strong resistance at 1.3023 (25/10/2012 high, see also declining trendline). An hourly support is at 1.2968 (30/11/2012 low). A key support is at 1.2875 (intraday low).
The underlying trend is negative (see declining trendline linking the May 2011 high with the August 2011 high on a daily chart). Therefore we expect limited upside potential from current prices.