EURUSD: Consolidation Sets In.
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EURUSD: Though seen consolidating, its broader bias remains to the upside as long EUR can trade and hold above the 1.3030/04 levels. However, the pair will have to break and hold above the 1.3106/34 level to prevent a return to the 1.2900 level and then the 1.2750/35 levels, its key support levels. This if seen will target the 1.2700 level followed by the 1.2735 level and then the 1.2650 level. On the upside, to continue its recovery it will have to return above the 1.3106/34 levels followed by the 1.3250 and then the 1.3318 level. All in all, EUR continues to retain its corrective upside bias.