The EUR is approaching important resistance areas across the board. Figure 1 highlights these levels against the JPY, CHF, USD, and GBP. Of these, the September and October peaks in EUR/USD are likely the most significant, along with the year to date highs approaching in EUR/CHF. While our short term targets have been achieved, it would take a recovery above these areas to suggest that further gains are in store to the 1.33/35 area for EUR/USD.
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