EUR/USD has rebounded twice from the support level and has formed a Channel Down formation on the 30M chart. The pattern has 41% quality along with 64% magnitude in a 51 bar period.
The price has rebounded from the support level at 1.3133. but has not moved straight to the resistance level. The RSI indicator shows that pair is oversold and increase the possibility of pair's continuous rebound. If the pair recovers, the first potential target for long traders could be around 1.3229.
The Stochastic indicator has recoiled from its critical area at 20% and has sharply increased to the overbought zone. It has not touched its high at 80% what supports the idea of pair's continuous rebound. If bears will not let the price go upwards, the initial target for short traders could be around 1.3115, where the support level stands.