EUR/USD’s decline from 1.3906 (11/04/2014high) has stopped around the 50% retracementmeasured from the low at 1.3673 (04/04/2014). As a result, the short-term technical structure ispositive as long as the support at 1.3780(09/04/2014 low) holds. Hourly resistances nowstand at 1.3879 and 1.3906.
In the longer term, EUR/USD is still in asuccession of higher highs and higher lows.However, the recent marginal new highs(suggesting a potential long-term rising wedge)indicate an exhausted rise. A key resistancestands at 1.3967 (13/03/2014 high).
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