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EUR/USD was capped at 1.3385, tumbled to 1.3277, forming a Channel Up pattern on 4H Chart. The pattern has 62% quality along with 40% magnitude within 21 bars.
The pair has been growing since March 15, after two-week depreciation by 3.7%. Most of indicators remain neutral, while MACD and SAR lead to the pair's possible fall. If the price decreases, investors might focus their attention on the key level around 1.3308. If the pair breaks support around 1.3300/15, the possible target for short traders could be 1.3229.
The Stochastic indicator bounced off its 20% level, which increases the possibility of the pair's recovery. The support level was tested previously at 1.3308, and bulls could wait for its likely retest. If the price recoils, the initial target for long inves-tors might be around 1.3373.