EUR/USD continues to improve and is nowclose to the resistance implied by the decliningchannel (around 1.3655). A key horizontalresistance stands at 1.3739. The short-termmomentum remains bullish as long as the hourlysupport at 1.3609 (intraday low) holds. Anotherhourly support lies at 1.3552.
In the longer term, the key resistance areabetween 1.3832 (25/10/2013 high) and 1.3893(27/12/2013 high, see also the long-termdeclining trendline) is likely to cap any priceappreciation. The current declining channelfavours a gradual decline towards the support at1.3296 (07/11/2013 low).
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