Technical forecast for EUR/USD

EURUSD reached resistance at 1.3041 & over ran slightly to 1.3054. A push through 1.3045/54 does look possible today for a crawl higher to 1.3094, possibly a retest of 1.3134/37 which would be expected to cap a move to the upside.

1.2965/55 support marked the low last week. A break today however cannot be ruled out in this down trend, to target 1.2890/80 & if this fails we should test the 200 day MA at 1.2862. We will be watching for a bounce in this area today.