EUR USD breaches the channel 05/04/2013

The pair approaches from the main waited target at 1.2725, and bounced sharply to the upside breaching above the bearish channel and stops the negative scenario now, where it moves now between the breached resistance – which turns into support  at 1.2880- and the critical resistance at 1.2990

Now, we need to stay neutral waiting for confirmation signals for the trend, we get it by surpassing one of the above mentioned levels.

Expected trading range for today is between: 1.2800 support and 1.3070 resistance.

Expected trend for today: Neutral