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EUR/USD: Weak Bounce

EUR/USD bounced yesterday near the support at 1.3780. However, bullish rally is weak. An hourly support is at 1.3780 (22/04/2014 low, see also the low of the declining channel). The next resistance is at 1.3906 (11/04/2014 high). The short-term technical configuration remains positive as long as the support at 1.3730 holds.

In the longer term, EUR/USD is still in a dominate uptrend, suggesting additional upside can be anticipated. A significant resistance now lies at 1.3876 (24/03/2014 high).

Daily Technical Report

 

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