EUR/USD has breached the strong support at1.3643 (see also the 200 day moving average),suggesting persistent short-term sellingpressures. The technical structure is negative aslong as prices remain below the resistance at1.3734 (19/05/2014 high). Another resistance canbe found at 1.3775 (12/05/2014 high), whereasanother support lies at 1.3562 (12/02/2014 low).
In the longer term, EUR/USD has broken itslong-term rising trendline (see also the supportat 1.3673), indicating a clear deterioration of theunderlying bullish momentum. A decisive breakof the key support at 1.3643 (27/02/2014 low) isneeded to confirm a long-term bearish trendreversal (potential double-top).
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