EUR USD attempts to recover 14/05/2013

The pair is providing positive trading since yesterday, moving away from the critical level 1.2970, approaching from minor resistance level at 1.3035, where breaching above this level will open the way for more intraday rise, but we notice that Stochastic reaches the overbought levels, which might make achieving more of the upside track difficult.

In general, we will depend on the price behavior according to the above mentioned levels to detect the next intraday trend, as breaching above 1.3035 will push the price initially towards 1.3145 then 1.3200, while breaking below 1.2970 will lead to resume the bearish wave that begun last week

Expected trading range for today is between: 1.2870 support and 1.3145 resistance.

Expected trend for today: Depends on the abovementioned levels