EUR/USD has thus far failed to make anyfollow-through after the move above the strongresistance at 1.3893 (27/12/2013 high), and hasshifted into a consolidation pattern. The shorttermtechnical configuration remains positive aslong as the support at 1.3834 (11/03/2014 low)holds. Another support is given by the risingchannel (around 1.3772, see also 50%retracement).
In the medium-term, the ascending triangleformation favours a further upside potentialtowards 1.4368. A key resistance lies at 1.4247(27/10/2011 high), whereas a key support is at1.3643 (27/02/2014 low).
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MIG Bank