EUR/USD has broken the support at 1.3621.Coupled with the false breakout of the keyresistance area between 1.3811 (11/12/2013high) and 1.3832, a medium-term double-top islikely underway. The implied downside risk is at1.3440. Supports stand at 1.3524 and 1.3490(25/11/2013 low). The short-term technicalstructure is negative as long as prices remainbelow the resistance at 1.3677. In the longer term, the recent false breakoutnear the key resistance area defined by 1.3811and the long-term declining trendline (around1.3892) confirm a limited upside potential. Wefavour a corrective phase towards the 200 daymoving average (around 1.3321).
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MIG Bank