EURUSD Analysis – August 24, 2013

EURUSD broke above 1.3415 resistance, suggesting that the uptrend from 1.2747 has resumed. Further rise could be expected next week, and next target would be at 1.3600 area. Initial support is at the lower line of the price channel on daily chart, as long as the channel support holds, the uptrend will continue. Key support is 1.3200, only break below this level will indicate that the uptrend from 1.2756 is complete, then another fall to re-test 1.2747 support could be seen.

eurusd daily chart