[DanRath]

EUR/USD – The market has made no progress directionally one way or the other this week; key support remains in the low/mid 1.37 area while key resistance stands at 1.4150/75. The underlying uptrend here remains intact as there is no strong evidence from price movement to suggest a reversal is at hand. That means the main risk is geared towards a topside move at the moment though an extended period of range trading, where investors simply look to continue fading the wider range extremes, cannot be excluded. EUR/USD will need to push back through 1.40 fairly quickly next week and, more particularly, break above 1.4080/85 to have a shot at testing the topside of the current range though.
Otherwise, the risk dipping back to the low/mid 1.38s.