1.3170/60 resistance halted further growth and trading consolidated within narrow range between 1.3160-1.3100/10 levels, which gives reasons to consider recent growth a correction within dominating bearish trend and expect another decline to earlier mentioned minimums at 1.2870/80, 1.2750, 1.2620 levels. However, indicators are uncertain, making the situation unclear, which gives reasons to doubt of the bearish strength.  Growth above 1.3210/15 level – blue-dashed trend line – will be a sign of the bearish weakness. The final signal for reversal up will be received if the price breaches 1.3290/1.3300 resistance. 

Analysis prepared by:

Arkady Nagiev
Forex4you analyst