EUR/USD has broken its support at 1.3257 (16/01/2013 low) and its medium-term rising trendline (linking July 2012 low with November 2012 low). However, it is now close to the key support at 1.2998 (04/01/2013 low). Hourly resistances can be found at 1.3145 (22/02/2013 low) and 1.3319 (25/02/2013 high). • In the bigger multi-week time frame we note that the higher low in July 2012 (compared to July 2010) and the recent new high above the strong resistance at 1.3487 (24/02/2012 high) indicates an improvement in the underlying trend. A key long-term support is at 1.2662 (13/11/2012 low). (full story)