Pair EUR/USD neither broke resistance at 1.3220-1.3240 (38.2% Fibonacci extension level for the November 2011 – January 2012 wave), nor closed below the nearest support at 1.3075. The pair is currently trading in the middle of a short-term descending channel, while technical indicators have stabilized over the last week. Nevertheless daily close below 1.3075 could drive quotes toward support level 1.2830, as 1.3240 remains a strong obstacle for rallies.
