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EURUSD: Although EUR is biased to the downside, it faces a recovery higher threats. This is coming on back of its rejection candle print on Thursday (weekly) last week.

If recovery is triggered, expect further upside towards the 1.3774 level where a break will set the stage for a run at the 1.3839 level. Further out, resistance resides at the 1.3905 level and 1.3966 level where a break will aim at the 1.4000 level, its big psycho level.

On the other hand , support lies at the 1.3676 level followed by the 1.3600 level. Further down, support stands at the 1.3550 level where a violation will target the 1.3500 level. All in all, EUR remains biased to the downside in the medium term but faces recovery higher.

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Guest post by FX Tech  Strategy