EUR/USD continues to improve by moving outof its declining channel. An horizontal resistancecan be found at 1.3685 (50% retracement). A keyresistance stands at 1.3739. The short-termmomentum remains bullish as long as the hourlysupport at 1.3609 (10/02/2014 low) holds.Another hourly support lies at 1.3552.
In the longer term, we favour a broadhorizontal range between 1.3296 (07/11/2014low) and 1.3893 (27/12/2013 high) with a bearishbias. As a result, a gradual decline towards thelow of this range is favoured. A first key supportis given by the 200 day moving average (around1.3394).
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