EUR/USD continues to consolidate after its risefrom 1.3673 to 1.3906. Despite yesterday’sweakness, the short-term technical structure ispositive as long as the support at 1.3780(09/04/2014 low) holds. Hourly resistances nowstand at 1.3840 (intraday low) and 1.3879.
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. A key resistancestands at 1.3967 (13/03/2014 high).
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