EUR/USD Technical Analysis: Rising wedge caps off bullish lift

• Euro remains trapped under resistance line limiting current upside action.
• Subsequently higher bottoms are pricing in a rising wedge.
• Traders await awaiting concrete statements from ECB, who may be considering to begin discussing QE tapering.

EUR/USD Chart, 1-Hour

Spot rate: 1.1721
Relative change: 0.06%
High: 1.1734
Low: 1.1711

Trend: Sideways

Support 1: 1.1700 (major key level, 50-hour EMA)
Support 2: 1.1652 (Tuesday low)
Support 3: 1.1617 (June 1st low)

Resistance 1: 1.1730 (current immediate resistance)
Resistance 2: 1.1781 (R2 1-Day pivot)
Resistance 3: 1.1830 (R3 1-Day pivot)