EUR/USD peaked at 1.3893 last Friday, just shyof a multi-month falling trend line. Scope is nowseen for a further swing higher to retest this keyarea of resistance once again where supply isanticipated. Failure to be contained near the1.3900 region will next open up a return towards1.4247 (27/10/2011 high).
Overbought conditions and other nearbyresistances such as the psychological thresholdat 1.4000, may help to contain the upside longerterm.
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MIG Bank