Trying to bounce near the support at 1.3692.
EUR/USD has recently weakened. However, it remains supported by its rising channel (see also the support at 1.3692). A break of the initial resistance at 1.3728 (intraday high) would validate a tiny base formation. Another resistance lies at 1.3773, whereas another support can be found at 1.3657 (intraday low, see also 38.2% retracement).
The break to the upside out of the mediumterm horizontal range between 1.3477 and 1.3739 indicates a persistent buying interest.
In the longer term, we favour a broad horizontal range between 1.3296 (07/11/2014 low) and 1.3893 (27/12/2013 high).
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MIG Bank