EUR/USD has broken the resistance areabetween 1.3622 and 1.3651 (21/10/2013 low),confirming a persistent strong buying interest.The short-term technical structure remainspositive as long as the key support at 1.3254 (seealso the rising trendline) holds. 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. As a result, the current rise isseen as rebound. However, the break above theresistance area between 1.3622 and 1.3651increases the odds of a test of the key resistanceat 1.3822.
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MIG Bank