Early this week, the greenback managed to complete a 100% retracement of the latest 1.3080 - 1.3257 minor upward wave, getting close to 1.3060, the 50% fib. level of the larger 1.2866 - 1.3257 mid-term wave. This level should hold for now, as it also corresponds to the resistance line of a former price channel (limiting the pair for more than a month at the beginning of the year), and the 4h 200MA. EUR remains supported on larger charts, and a new push up (followed by a close above the daily 20MA around 1.3140) during the next sessions could see the pair re-test last year's high of 1.3364 in the upcoming weeks. On the other hand, if EUR drops below the key 1.30 level during the sessions to come, we might see the pair re-test the 1.2860 area later on. For now, we remain slightly bullish on the pair, and will be looking for further technical confirmations in order to re-enter long positions.