EUR/USD is awaiting a range breakout between 1.3539 & 1.3671 for directions, says JP Morgan. "No conclusion yet whether the downtrend has already been resumed or whether we are still due for a stronger countertrend rally which would classically stretch out to the upper T-junction at 1.3877 (minor 76.4 %)," JPM argues. "In order to receive stronger evidence for one of the two scenarios we are looking for a range breakout between 1.3671 (minor 76.4 %) and 1.3557/39 (minor 76.4 %/hourly trend)," JPM adds. "Above 1.3671 we’d look for an extension to 1.3877 whereas below 1.3539, we’d see key-support at 1.3493/77/68 ... (full story)