Forex: EUR/USD rejected from 1.33 highs; 1.32 support verified

FXstreet.com (Barcelona) - EURUSD is trading last at 1.3213, off recent daily lows at 1.3187, slightly below previous Asia-Pacific open yesterday, displaying a hanging man candle pattern in its daily chart, with a long tailed upper shadow at fresh 8 ½ month highs 1.3308 ahead of NY open. All in all, the pair is still higher for the week by +0.38%.

Technically, "The hourly chart shows an increasing bearish momentum," says Valeria Bednarik, Chief Analyst at Fxstreet.com, "trading below 1.3225 previous short term support and below 20 SMA," the analyst notes, adding: "the pair may continue its downside run towards 1.3185 next big support. If this last gives up, then beware of a stronger downside move as bear will regain control over the next few days," she concludes.

Valeria finds support levels at: 1.3185, 1.3140 and 1.3100, while resistance levels at: 1.3225, 1.3250 and 1.3290.