EUR/USD is challenging the key support at1.3621 (see also the rising trendline), which wasthe minimum short-term downside risk impliedby the recent double-top. Another supportstands at 1.3524. Hourly resistances can befound at 1.3691 (intraday high) and 1.3723(17/12/2013 low). In the longer term, the decline from the peakat 1.3832 (25/10/2013 high) indicates a significantexhaustion of 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 seems limited.
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MIG Bank