EURUSD: With EUR bullish and extending its strength the past week, further upside is likely in the new week. Further out, resistance resides at the 1.3850 level followed by the 1.3900 level and possibly higher towards the 1.3950 level. A cut through here will target the 1.4000 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, support stands at the 1.3710 level where a reversal of roles is likely. But if this is taken out, more downside pressure is likely towards the 1.3645 level. A break of here will pave the way for a run at the 1.3500 level and subsequently the 1.3451 level. All in all, EUR remains biased to the upside.
