EURUSD broke above 1.3861 resistance and reached as high as 1.4006, suggesting that the uptrend from 1.2874 has resumed. Further rise is still possible in a couple of weeks, and next target would be at 1.4200 area. Support levels are at 1.3825 and 1.3740, as long as these levels hold, uptrend will continue.
For long term analysis, EURUSD had formed a cycle bottom at 1.2874 level on weekly chart. Further rise towards 1.4500-1.5000 area could be expected in next several months.
