EURUSD is facing 1.2747 support, a breakdown below this level will indicate that the downtrend from 1.3711 has resumed, then deeper decline to 1.2250 area could be seen. On the upside, as long as 1.2747 support holds, the fall from 1.3242 would possibly be correction of the uptrend from 1.2747, another rise to 1.3500 is still possible after correction. Resistance is at 1.3050, a break above this level could signal resumption of the uptrend from 1.2747.
For long term analysis, EURUSD is in uptrend from 1.2042 (Jul 24, 2012 low), another rise towards 1.4500 could be expected after consolidation.
