EUR/USD: EUR looks to extend its bullishness in the new week having continued to hold on to its medium term uptrend.
Further out, resistance resides at the 1.3831 level where a break will aim at the 1.3900 level. Price hesitation may occur here but if violated it will target the 1.4000 level. Its weekly RSI is bullish and pointing higher supporting this view.
Conversely, support lies at the 1.3693 level with a break turning focus to the 1.3600 level and possibly lower towards the 1.3500 level.
We may see bulls come in here and turn the pair higher but further decline is seen expect a move lower towards the 1.3400 level. All in all, EUR remains biased to the upside in the medium.
Guest post by FX Tech Strategy
