EURUSD: Bullish, Targets Further Upside
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EURUSD: With EUR seen trading slightly above the 1.3400 level, a convincing break and hold above that level is expected. A follow through higher above here will turn focus to the 1.3450 level with a breach setting the stage for more gains towards the 1.3500 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.3318/30 levels and then the 1.3242 level, a reversal of roles as support is likely to occur here and turn it higher. However, if broken, further decline could follow towards the 1.3200 level. Further down, support comes in at the 1.3100 level and possibly lower towards the 1.3000 level. All in all, EUR continues to retain its medium term upside bias.