EUR/USD Hear One Month High On Spain Hopes

On Wednesday Euro/Dollar continued increasing insignificantly with 55 pips. The European currency appreciated from 1.3084 to 1.3139 yesterday, matching the positive money flow sentiment at almost +25%, closing the day at 1.3118. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.
On the 1 hour chart quotes are still held within the trading range, while on the 3 hour chart the upward channel is making renewal attempts. Break above the nearest resistance and yesterday's top at 1.3139 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3084, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2970.