EURUSD: The pair closed higher on a second-week of upside offensive on Friday leaving the possibility of further strength on the cards. A failure of this to occur will call for a run at the 1.2837 level where a breach will set the stage for a run at the 1.2750/35 levels, its key support levels followed by the 1.2600 level. On the upside, resistance resides at the 1.3061 level where a violation if seen will aim at the 1.3150 level. Further out, resistance comes in at the 1.3242 level with a cut through here resuming its medium term uptrend and calling for a run at the 1.3350 level. All in all, EUR continues to retain its medium term downside bias despite recovery attempts.
