EUR/USD has moved recently within a shorttermhorizontal range between 1.3586 and1.3650. Today’s ECB decisions are likely todetermine the direction of the next short-termtrend. Another support stands at 1.3562(12/02/2014 low), whereas another resistance liesat 1.3734 (19/05/2014 high).
In the longer term, the break of the long-termrising wedge (see also the support at 1.3673)indicates a clear deterioration of the technicalstructure. The long-term downside risk impliedby the double-top formation is 1.3379. Keysupports can be found at 1.3477 (03/02/2014 low)and 1.3296 (07/11/2013 low).
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