EURUSD: We are looking for EUR to recapture the 1.3621 level and then resume uptrend. This view is in line with the pair’s bullish recovery triggered off the 1.3295 level. In such a case, the 1.3650 level will be targeted where a violation will aim at the 1.3738 level. Further out, resistance is seen at the 1.3800 level. Its daily RSI is bullish and pointing higher supporting this view. Support lies at the 1.3524 level with a breach targeting the 1.3500 level and then the 1.3450 level. We may see the bulls come in here and push the pair higher. However, if this fails to occur, expect further upside towards the 1.3400 level. All in all, EUR continues to retain its upside bias in the medium term.
