It seems that the broke of the resistance level of 1.3100 had proven to provide further upside potential as EU had managed to break through numerous resistances easily for the past week. The pair now stands at an important juncture which is the UTL from the downtrend last year. The UTL is seen to coincide with the 38.2 fibs as well providing a confluence of resistance at the 1.3800 area. A clear break in at this 1.3800 area would provide further upthrust for the pair.
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