expecting the US data and possible breakout to 1.335xx area ...
EUR/USD – The strong resistance at 1.3172 has been broken
EUR/USD has broken the strong resistance at 1.3172 (17/09/2012 high). Another resistance can be found at 1.3284 (01/05/2012 high). Hourly supports are at 1.3144 (17/12/2012 low) 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. However, we still expect a phase of weakness in the next few weeks given the general overbought conditions. A strong resistance is at 1.3487 (24/02/2012 high).