EURUSD: Our bias on EUR continues to point lower while holding below the 1.3905 level. Though closing marginally higher the past week, except it returns above the mentioned level, the risk remains lower. Support lies at the 1.3779 level where a break will aim at the 1.3737 level followed by the 1.3676 level. Further down, support stands at the 1.3600 level where a violation will target the 1.3550 level. Conversely, medium term outlook on EUR remains higher but it will have to recapture the 1.3905 level and 1.3966 level to resume that uptrend. Further out, resistance resides at the 1.4000 level, its big psycho level. All in all, EUR remains biased to the upside in the long term but faces corrective weakness threats.
Article by www.fxtechstrategy.com
