EUR/USD’s rise is still viewed as a short-termrebound. Yesterday’s strength has not been ableto move higher than the resistance at 1.3622,posting a potential lower high. However, a breakof the support at 1.3490 (see also the risingtrendline) is needed to confirm a resumption ofselling pressures. Another resistance stands at1.3651 (21/10/2013 low), whereas anothersupport is at 1.3400 (21/11/2013 low). 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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