EURUSD Analysis – June 9, 2013

EURUSD breaks above 1.3242 resistance, suggesting that the downtrend from 1.3711 had completed at 1.2747 already. Further rise could be expected, and next target would be at 1.3500 area. Support is at 1.3070, only break below this level could trigger another fall to re-test 1.2747 support.

For long term analysis, EURUSD is in uptrend from 1.2042 (Jul 24, 2012 low), another rise towards 1.4500 could be expected after consolidation.

eurusd daily chart