EURUSD: Halts Declines, Triggers Recovery.

 

EURUSD: Recovery saw EUR taking back its previous week losses to close higher the past week. This development has left EUR targeting further upside towards the 1.3207 level with a break turning attention to the 1.3297 level. A cut through there will aim at the 1.3450 level. Its weekly RSI is turning higher supporting this view. Conversely, a reversal of its past week gains will turn downside risk towards risk the 1.2755 level with a turn below here shifting attention to the 1.2700 level and then the 1.2600 level. All in all, EUR has turned higher on corrective rally.

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