Last Updated on 30 December 2012
EURUSD: Maintains Broader Upside, Looks To Recapture 1.3307 Level.
EURUSD: Despite its consolidation the past week, it managed to close higher, opening the door for a move higher towards the 1.3307 level, representing its Dec 2012 high. A break of here will target further upside towards the 1.3350 level. Further out, resistance resides at the 1.3400 level, its psycho level and possibly the 1.3500 level. Its daily RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, EUR will aim at the 1.3158 level, its Dec 21’2012 low. Further down, support comes in at 1.3000 level and then the 1.2822 level. All in all, EUR faces further upside threats with eyes on the 1.3307 level and beyond.
EURUSD: Rallies, Looks To Extend Further Upside
EURUSD: With a second week of upside seeing the pair breaking and holding above the 1.2822 level, further strength is likely to occur. The immediate resistance resides at the 1.3000 level where a violation will call for a run at the 1.3171 level. A breach of here will resume its broader uptrend towards the 1.3282 level. Its weekly RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, support lies at the 1.2822 level. Below here stands another support at the 1.2660 level with a cut through there calling for a run at the 1.2498 level where a break will aim at the 1.2400 level. All in all, EUR now faces further upside threats.
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