EUR/USD: Current outlook for January 15, 2013

January 15, 2013
 
The pair is consolidating above the 1.3300 resistance, thus confirming the medium-term upside run above the 1.3500 resistance towards the 1.4000 level. However, a break back below the 1.3300 level could trigger a setback towards the 1.2960-1.3030 support area, which contains the 50-Day SMA and the 100-Day SMA, or below towards the key 1.2780 support, right where the 200-Day SMA resides, and from where a bullish resumption could take place. Meanwhile, a daily close below the 200-Day SMA would confirm deeper setbacks towards the 1.2660, 1.2465 supports and ultimately ahead of the 1.2050 low.
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