Last week started and ended with the growth of the euro against the dollar. Trying to decrease, the single currency immediately found the support at 1.3140 and then, it began to grow. The growth was not particularly impressive and the pair couldn't increase above 1.3280. This circumstance, as well as the overbought indicators together with the fundamental factors have triggered the sales of the single currency, which caused the testing of the support level at 1.3140 and the formation of the potential "head and shoulders" figure (on a 4-hour chart). Since, the pair faced the strong demand at the support level, which caused its growth again, the figure has not been worked out. The weekly closing of the euro/dollar occured at current highs, which is a positive point for the further dynamics of the pair. Nevertheless, the resistance level of 1.3300-1.3340 could constrain the pair bulls, but its passing will increase the upward momentum and the euro may increase to the 34th figure. The immediate support is at 1.3230, the stronger one is at 1.3180.
