EUR/USD continues to move sidewaysbetween the support at 1.3692 and theresistance at 1.3773. The current mild correctionin prices (less than 38.2% retracement) and thepotential ascending triangle formation favour ashort-term bullish bias. Another resistance canbe found at 1.3819.
The break to the upside out of the mediumtermhorizontal range between 1.3477 and1.3739 indicates a persistent buying interest.
In the longer term, we favour a broadhorizontal range between 1.3296 (07/11/2014low) and 1.3893 (27/12/2013 high).
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MIG Bank