EURUSD Analysis – June 15, 2013

EURUSD’s upward movement from 1.2796 extends to as high as 1.3390. Further rise could be expected next week, and next target would be at 1.3500 – 1.3600 area. Support is at 1.3170, only break below this level will suggest that consolidation of the uptrend is underway, then pullback to 1.3000 area could be seen.

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