EUR/USD is currently in a tight consolidation area between 1.3155 and 1.3310. The 1.3155 level is the support, and the 1.33 level is the resistance.
We can expect for the next week a heavy fundamental flow to force an increase of volatility in the pair as the Fiscal cliff deal is heading to House after Senate vote.
A daily close above 1.3310 would confirm the current medium uptrend. The pair is very likely to test the short term resistence level at 1.33. Any downards movement is expected to be capped at the level 1.3.
A daily close below 1.3 would negate the current upward momentum in the EURUSD.
Long term outlook: flat market with complex consolidation patterns
Medium term outlook: unconfirmed up trend with support levels 1.30 and 1.27
Short term outlook: up trend: support: 1.31 resistence: 1.3355
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