When it goes it goes, like an unstoppable mud slide. We’ve been up to the next strong technical resistance area at the Feb 2012 resistance line at 1.3970 and that’s seen a pause in proceedings so far as we slip back to 1.3950.
EUR/USD weekly chart 13 03 2014
1.3950 is offering mild support at the moment and we’ll likely see stronger stuff down at 1.3900.
With the lack of US data recently the Euro has had no excuses not to run higher. What will be a test, and interesting watching is how it reacts to the data today. If it goes up on good US numbers then this rally could well be hitting 1.40 very soon. If it falls we’ll see how much interest comes in below.