Search ForexCrunch

EUR/USD: Although a temporary recovery occurred on Monday, a pull back is now underway. As long as this occurs below the 1.3645 level our outlook on EUR remains lower. This exposes the 1.3441 level where a breach will aim at the 1.3400 level.

Further down, support comes in at the 1.3350 level followed by the 1.3300 level. Conversely, on ending its present weakness it should retake the 1.3831 level but before here it will have to overcome the 1.3695 level.

Further out, the 1.3900 level comes in as the next upside followed by the 1.3950 level. All in all, EUR continues to retain its downside bias in the short term.

Guest post by  FX Tech Strategy