EURUSD: Halts Decline, Recovers Higher.
EURUSD: With EUR halting its Monday losses and triggering a recovery, the challenge is for it to retake the 1.3772 level broken during Monday trading. If eventually this is seen, further gains could occur towards the 1.3824 level, its Feb 28 2014 high. Above here will pave the way for a run at the 1.3893 level, its Dec 27 2013 high. A turn above here will expose the 1.3950 level and next the 1.4000 level. On the downside, support lies at the 1.3720 level with a violation of here targeting the 1.3698 level, its Feb 28 2014 low where a break will turn focus to the 1.3642 level , its psycho level. A cut through here will aim at the 1.3561 level, its Feb 12 2014 level. All in all, EUR remains biased to the upside in the medium term.
Article by www.fxtechstrategy.com
