EUR/USD continues to grind higher within thehorizontal range defined by 1.3503 and 1.3677.Monitor the test of the hourly resistance at1.3644. An hourly support lies at 1.3565(20/06/2014 low, see also the 61.8%retracement).
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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