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Forex pairs in this Article » EUR/USD (Barcelona) - EURUSD is currently at 1.3493, near fresh 13-month highs area, resting right underneath the 1.35 round level, like if waiting for something just to break above. Later on jobs and GDP figures in the US, coupled with FOMC statement, will surely add some volatility to this market, with oil at fresh 4-month highs above $97, and US SP500 index at 5-year highs above the 1500 mark. EURUSD is higher by +0.23% for the week, while +2.25% for 2013 so far.

"Note the slowing upside momentum over the last few months, a potential rising wedge (reversal pattern) forming over the last few weeks, and the view of a more important bottoming in the broader $ index," says FXA analyst David Solin, "all add to the potential for an approaching, important top," he adds. The pair has bounced from yesterday's weekly low at 1.3413, dropping again its daily average range to below the 100 pips per day, long term average daily volatility for the pair.

Immediate resistance to the upside for EURUSD shows at Tuesday's fresh 13-month highs 1.3498, followed by late Nov/early Dec 2011 highs at 1.3533/48, and Nov 01 2011 lows at 1.3606. To the downside, closest support lies at Friday's/Monday's highs 1.3480, followed by Monday's lows at 1.3423, and yesterday's weekly lows at 1.3413.
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