There is trendline resistance from 1.5140 through 1.4280 coming in close to current levels. The 200-week MA is at 1.3957. A weekly close above both of these would be a very bullish indicator. The daily chart is bullish but could pull back significantly without altering the trend.
The EUR crosses are making a major statement with EUR/JPY breaking out of a holding pattern and EUR/CHF confirming major support at 1.2700. As I mentioned yesterday, the “Swiss mafia” were busy buying EUR/CHF early in the European session and they have a happy knack of getting all money matters correct.
Buying EUR/USD dips towards 1.3890 looks like a sensible play; technical resistance around 1.3980 and probable barriers at 1.4000 need to be respected.
