EUR/USD’s rise is still viewed as a short-termrebound. Monitor the test of the resistances areadefined by the 61.8% retracement at 1.3627 and1.3651 (21/10/2013 low). An initial support lies at1.3558 (27/11/2013 low). Another support is at1.3490 (25/11/2013 low, see also the risingtrendline). In the longer term, the decisive break of thestrong support at 1.3462 (see also the risingchannel) suggests that a significant top at 1.3832has been made and favours the start of a newphase of weakness. A gradual decline towardsthe key support at 1.3105 (06/09/2013 low) islikely.
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