Forex: EUR/USD – Where do we go to from here?

on Jul 17, 2013
Listen Wednesday July 17th_: Yesterday the EUR/USD rose by 0.89 percent, with the daily candle closing at 1.3146. Today the pair has been in modest descent, in a shallow 20-pip range. At the moment the price is residing at 1.3136.

The way up passes through yesterday’s high of 1.3173 and the 10 July high of 1.3205 and, if the market breaks those two levels, the pair could be en route to the 1.3300 and 1.3400 levels.
Bullish sentiment is supported by the MA89 and MA200 currently floating below the price action on the 1H, 4H and daily charts.
In the event of further descent, the pair will likely target 1.2750.
Resistances today: 1.3145, 1.3175 and 1.3205.
Supports: 1.3125, 1.3095 and 1.3050.