EURUSD: Eyes The 1.3242 Level And Beyond.
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EURUSD: Though backing off slightly off its last week high, it looks to return to that level at 1.3242 level in the new week. Further out, resistance resides at the 1.3300 level where a break will call for a run at the 1.3350 level. Above here will create scope for more upside towards the 1.3400 and then the 1.3450 level. The alternative scenario will be a return to the 1.3054 level where a breach will call for a run at the 1.2955 level. Further down, support lies at the 1.2850 level. Below here will aim at the 1.2750/35 levels, its key support levels. All in all, EUR continues to retain its short term upside bias.