EUR/USD is facing the resistance of the downward price channel on Weekly chat down. As long as the channel resistance holds ,the downtrend from 1.3990 could be expected to resume ,a clear break above the channel resistance will indicate that the lengthier consolidation for the downtrend is needed ,then further rise to 1.3030 area could be seen.

Support: 1.2560 – 1.2650- 1.2720

Resistance: 1.2930 – 1.3030 -1.3060