EUR/USD: Rallies, Looks To Extend Strength

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EURUSD: With EUR rallying strongly in early trading today, the risk is for continued strength towards the 1.3645 level to occur.

A break of here will resume its broader upside and pave the way for a run at the 1.3710 level, its Feb 01’2013 high.

Further out, resistance resides at the 1.3750 level followed by the 1.3800 level and possibly higher towards the 1.3850 level.

Conversely, support comes in at the 1.3597 level with a breach targeting the 1.3500 level followed by the 1.3456 level and then the 1.3321 level. A cut through here will target the 1.3250 level.EURUSD

Further down, support comes in at the 1.3165 level. All in all, EUR continues to retain its upside bias in the medium term.

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