EUR/USD completely reversed yesterday’sstrength, warning of a potential false breakout ofthe strong resistance at 1.3893. However, theshort-term technical configuration remainspositive as long as the support at 1.3834(11/03/2014 low) holds. Another support is givenby the rising channel (around 1.3761). Aresistance can now be found at 1.3967(13/03/2014 high).
In the medium-term, the ascending triangleformation favours a further upside potentialtowards 1.4368. A key resistance lies at 1.4247(27/10/2011 high), whereas a key support is at1.3643 (27/02/2014 low).
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