EUR/USD made a bullish intraday reversalyesterday (hammer). Coupled with the proximityof the key support at 1.3296, the odds of a shorttermrebound are increasing. Resistances standat 1.3444 and 1.3503 (05/06/2014 low). An hourlycan now be found at 1.3333 (06/08/2014 low).
In the longer term, EUR/USD is in a successionof lower highs and lower lows since May 2014.The downside risk is given by 1.3210 (second leglower after the rebound from 1.3503 to 1.3700).A strong support stands at 1.3296 (07/11/2013low). A key resistance lies at 1.3549 (21/07/2014high).
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