EUR/USD: Are We Ready For 1.3500


EURUSD
Bouncing off of 1.3300 psychological support, EURUSD has continued to remain mired in short term consolidation. Further advances higher on the 1.3500 will continue to be contingent on a sizeable break above the 1.3394 resistance level. Any failure to rise above the figure will place consideration on a break down below the psychological 1.3300 barrier. Unfortunately, the latter situation would prompt a consideration of a medium term decline – with price action already forming a rising wedge.


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