Attached is the 1H chart for EURUSD. As can be seen, EU has continued merrily with its ranging for the whole day yesterday. This is something that was expected as there is so much of news today. We should be expecting a breakout today and considering the strength of EU so far, i believe that EU will breakout on the upside today.
On the upside, the targets would be 1.3336 and if this is broken , then there will be a small resistance at yesterday's high at around 1.3370. If this is broken, then there should be a major resistance at 1.3428 which has seen previous highs and hence should be a strong resistance. A break of this should open up 1.36 and then 1.37.
On the downside the supports will be at 1.3275, then yesterdays low at 1.3214 and then a major support at 1.3184. I dont expect this support to be broken but if it does get broken, then we should be looking at 1.31 and 1.3050.
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