The bullish break above 1.3325 which happened on Thusday last is likely to further increase short covering in the EUR/USD. The technical targets on the topside are now the 61.8% retracement (1.4245/1.2625) at 1.3625 and of course the 200-day MA at 1.3725. Initial support should be very firm at the break-up level, so trading the edges of a 1.3300/1.3700 range over the next week or so with a mild short-term bullish bias, makes good sense.