© Dukascopy Bank
Daily minimum: 1.3003
After forming a descending wedge on a 1-hour chart, EUR/USD has rallied up to 1.3075. However, this bullish move is likely to be short-lived, since the pair is now facing a formidable resistance area at 1.3119/49, while most of the indicators reinforce this view.
Daily Resistance: 1.3091; 1.3119/25; 1.3138/49.
Daily Support: 1.3058; 1.3040; 1.2999/90.
Daily Bias: Strongly bearish.