EUR/USD continues to consolidate after its risefrom 1.3673 to 1.3906. The technical structureremains supportive as long as the support at1.3780 holds. However, we see a limited upsidepotential given the strong resistance at 1.3967. Afirst key resistance lies at 1.3906. Hourly supportscan be found at 1.3854 (intraday low) and 1.3832(50% retracement of the recent rise).
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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