The pair continues to maintain relatively high values and the sideways pattern is still in progress. The degree of the strong performance of the day is evident by the fact that the daily high levels are very near to the monthly high marks. At the same time, the intraday bias in EUR/USD remains neutral at this point. Prior break of 1.3416 resistance argues that corrective pattern from 1.3718 has likely finished. Above 1.3445 will target a test on 1.3710 resistance. Meanwhile, anything below 1.3300 could turn bias back to the downside for 1.2755 support instead. In a deeper binary analysis, the overall price actions from over 1.6035 are regarded as a corrective pattern, which is still in progress. Current development suggests that price actions from 1.3715 were corrective in nature.


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    August 2013
    July 2013