EUR/USD faded yesterday close to the keyresistance at 1.3832. Monitor the test of thehourly support at 1.3740. Another support lies at1.3694 (09/12/2013 low). A key support stands at1.3621 (see also the rising trendline). In the longer term, the decline from the peakat 1.3832 (25/10/2013 high) indicates a significantexhaustion of the buying interest. Coupled withoverbought conditions and other nearbyresistances such as the long-term decliningtrendline from the 2008 peak at 1.6038 (around1.3917) and the psychological threshold at1.4000, the upside potential is likely limited.
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MIG Bank