Technical Analysis - EUR/USD’s short-term recovery (worth almost 6%) remains under pressure below resistance at 1.3937 (which has not been breached on a close basis). Bears need to break 1.3653 (18th Oct swing low) and 1.3550 (50% Fib-04th Oct swing), to challenge that all-important psychological level at 1.3000 and unlock further scope into 1.2860 (near 2011 low). Key resistance remains at 1.3937 (15th Sept high), which is near the previous breakout zone at 1.4000 and the long-term 200-day MA at 1.4092. Only a confirmation above here will neutralise the status quo. Inversely, the USD Index is continuing to retrace
