After breaking out above a couple of key resistance levels price action on EUR/USD has reached all the way up to test and slightly surpass the 1.4000 psychological milestone, and does not look to be relenting much as of Friday (5/22/2009) morning. The pair is currently due for some kind of a correction within the context of the currently accelerated uptrend (extending from the low in late April). In the event of this correction, the broken 1.3900 support/resistance region should now serve as tentative downside support, followed by the 1.3735 region once again. A key upside resistance target on an expected upside continuation resides firmly in the 1.4300 price region.
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