EUR/USD has reacted off resistance around this year's highs above 1.38, notes Australia and New Zealand Banking Group (ANZ). "Into next week's FOMC meeting, as expectations of a possible December taper rise, the USD may gain some support. Data releases could easily justify a taper next week with readings on the labour market, production and consumption all beating expectations. In November, retails sales rose by 0.7% m/m following an upwardly revised 0.6% m/m gain in October," ANZ projects. Given that, how should EUR bulls position into next week's FOMC meeting? "A clear break and close above the 1.3850 area ... (full story)