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EUR/USD – support at 1.3159 has been broken

The support at 1.3159 has been broken.
• EUR/USD has broken to the downside out of
its horizontal range between the support at
1.3159 and the resistance at 1.3308. Further
short-term weakness is favoured as long as the
hourly resistance at 1.3191 (intraday high) holds.
Supports are given by the rising trendline and
1.3041 (13/12/2012 low).
• The higher low in July 2012 (compared to July
2010) and the recent new high above the strong
resistance at 1.3172 suggest an improvement of
the underlying trend. A strong resistance is at
1.3487 (24/02/2012 high).

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