The EUR/USD pair has found support from the 50-day Moving Average at today's lows, and has rebounded. The support is so tough it will probably lead to a strong correction. Apart from the 50-day MA, there are the 100 and 200-day MA's at the same level. It is quite rare to find a situation where all three coincide. If price action shows a reversal, then a clean break above 1.3120 would add bullish confirmation and lead to a probable move up – first to resistance at 1.3160 and possibly higher. It would require a strong move below 1.3055 to decisively cut through the cluster of MA's, although there would not be far to go before reaching the monthly pivot at 1.3010, and then a major trend-line at 1.2995.