EURUSD: With EUR reversing its previous week losses to return above its broken trendline, further recovery gains are likely in the new week.
If this happens, the pair could force further strength towards the 1.3818 level, its Dec 30 2013 high where a violation will expose the 1.3750 level, its psycho level where a break will target the 1.3898 level, its Dec 2013 high.
Above here will trigger its medium uptrend resumption towards the 1.3950 level and then the 1.4000 level, its psycho level. Its weekly RSI is bullish and pointing higher suggesting further strength. Conversely, on any pullback, support comes in at the 1.3620 level, its rising trendline support.
Further down, support stands at the 1.3550 level and then the 1.3500 level. All in all, EUR remains biased to the upside on further bull threats.
Guest post by FX Tech Strategy.
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