EUR/USD rose sharply on Friday. Prices arenow challenging the key resistance areabetween 1.3832 (25/10/2013 high, see also thelong-term declining trendline) and 1.3893. Hourly supports can be found at 1.3727(27/02/2014 high) and 1.3694 (28/02/2014 low).
In the longer term, we favour a broadhorizontal range between 1.3296 (07/11/2014low) and 1.3893 (27/12/2013 high). However,monitor the potential ascending triangleformation. Another strong resistance lies at1.4247 (27/10/2011 high).
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MIG Bank