EUR/USD remains in a short-term bearishtechnical structure as long as prices stay belowthe resistance at 1.3650 (27/05/2014 high, seealso the declining trendline). Monitor the test ofthe hourly support at 1.3586. Another supportstands at 1.3562 (12/02/2014 low), whereasanother resistance lies at 1.3734 (19/05/2014high).
In the longer term, the break of the long-termrising wedge (see also the support at 1.3673)indicates a clear deterioration of the technicalstructure. The long-term downside risk impliedby the double-top formation is 1.3379. Keysupports can be found at 1.3477 (03/02/2014 low)and 1.3296 (07/11/2013 low).
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