The up trend line from 1.2939 to 1.3079 is broken below, EURUSD will form a sideways consolidation in a range between 1.3079 and 1.3258. Near term resistance is at 1.3258, up trend will resume after break above this level. Key support is at 1.3079, break below this level indicate lengthy correction to the up trend is underway, and further fall towards 1.3000 level can be expected. Now, as long as key support at 1.3079 holds, we'd expect rally to continue and further rise above 1.3296 can be seen after consolidation. For long term analysis, EURUSD is in long term bullish movement, and further rally towards 1.3500 to reach the next cycle top on weekly chart is still in favor.






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