EUR/USD has failed to confirm its move abovethe resistance at 1.3845 (20/03/2014 high). Pricesare now declining towards the support at 1.3749.Another support stands at 1.3643. Resistancescan be found at 1.3876 (see also the decliningtrendline) and 1.3948 (17/03/2014 high).
In the medium-term, the break of the supportat 1.3834 (11/03/2014 low, see also the risingchannel) coupled with general overboughtconditions favour a move lower towards thesupport at 1.3643. The recent high at 1.3967 islikely to act as a strong resistance.
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MIG Bank