EUR/USD is trying to bounce near the supportat 1.3708. However, the underlying technicalstructure remains negative. Hourly resistancesfor a short-term bounce can be found at 1.3779(intraday high) and 1.3847 (25/03/2014 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