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EUR/USD: Approaching The Strong Resistance at 1.3487
EUR/USD has broken the resistance area defined by 1.3284 and its previous highs at 1.3308 (19/12/2012 high). A move towards the strong resistance at 1.3487 (24/02/2012 high) is expected. Hourly supports are at 1.3321 (intraday low) and 1.3249 (11/01/2013 low).
The higher low in July 2012 (compared to July 2010) and the recent new high above the strong resistance at 1.3172 suggest an improvement of the underlying trend. Strong resistances can be found at 1.3487 and 1.4247 (27/10/2011 high).