EURUSD: Outlook Higher Despite Pull Back Attempts.
EURUSD: The pair may have closed marginally lower the past week but continues to hold on to its medium term uptrend. This suggests further upside is likely on ending its past week bear threats. Risk of a return to the 1.3645/1.3700 levels remains. Further out, resistance resides at the 1.3800 level followed by the 1.3850 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support stands at the 1.3451 level. A reversal of roles is likely to occur here and turn it higher. Further down, support lies at the 1.3300 level followed by the 1.3200 level. All in all, EUR remains biased to the upside.
EURUSD: The pair may have closed marginally lower the past week but continues to hold on to its medium term uptrend. This suggests further upside is likely on ending its past week bear threats. Risk of a return to the 1.3645/1.3700 levels remains. Further out, resistance resides at the 1.3800 level followed by the 1.3850 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support stands at the 1.3451 level. A reversal of roles is likely to occur here and turn it higher. Further down, support lies at the 1.3300 level followed by the 1.3200 level. All in all, EUR remains biased to the upside.