EUR/USD has improved, breaking out of itsshort-term declining channel. Monitor theresistance at 1.3820 (see also 50% retracement).Hourly supports now lie at 1.3734 (intraday low)and 1.3673. Another resistance can be found at1.3876.
In the longer term, EUR/USD is still in asuccession of higher highs and higher lows.However, the recent marginal new highs(suggesting a potential long-term rising wedge)indicate an exhausted rise. As a result, we wouldfavour selling short-term overextended rallies. Asignificant resistance now lies at 1.3876(24/03/2014 high).
Read the full report: Technical Research
MIG Bank