EUR/USD: With a sharp sell off occurring the past week, further downside is likely towards the 1.3400 level.
Further down, support comes in at the 1.3325 level where a violation if seen will aim at the 1.3250 level and possibly lower towards the 1.3200 level. Its weekly RSI is bearish and pointing lower supporting this view.
Conversely, resistance stands at the 1.3650 level where a break will aim at the 1.3710 level. Price hesitation may occur here but if violated it will target the 1.3800 level. But if this is taken out, more downside pressure is likely towards the 1.3645 level.
A break of here will pave the way for a run at the 1.3500 level and subsequently the 1.3451 level. All in all, EUR remains biased to the upside.
Guest post by FX Tech Strategy
