EUR/USD rebounded twice from the resistance level and has formed a rising wedge pattern. The formation has 42% quality along with 79% magnitude in a 151 bar period.
Price slowed near support level at 1.3227 and Stochastic indicator has declined from overbought area to the oversold zone. The Stochastic's present value around 16% could be a sign of the trend change. If EUR/USD recoils from the support level, the first target for long traders may be around 1.3302 where resistance level stands.
The pair's present resistance level at 1.3302 matched one-month high, which has strengthened the upper resistance line. RSI indicator supports the idea of a bearish strength because it has not reached its critical area yet. If bears will succeed, the possible target can be around 1.3173.