After a long run up, EUR/USD appears to have turned down, or at least, turned sideways.  I'd like to comment on the recent activity on the daily chart and a couple of significant areas of support.  Check out the chart below.  On Friday, EUR/USD came down and touched a recent area of support around 1.5350 that was first established as an area of support back on March 22.  This week, this area has been confirmed as an area of support as price has "bounced" off of it.  If it should come back down and break through this area, the next significant support is approximately 350 pips lower around 1.5000, which was tested as resistance multiple times in January of this year and late last year before EUR/USD broke through it in late February.  If the pair can break down through the support at 1.5350, there won't be much in its way to stop it before it reaches 1.5000.  I'll be keeping my eye on this pair to see how it acts around this key level over the next few days and weeks.