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EURUSD: Hesitates But Still Retains Broader Upside Bias.

PostPosted: Sun Dec 23, 2012 7:10 am
by FXTechstrategy Team
EURUSD: Although EUR may have closed slightly higher the past week following a back off higher prices, it continues to retain its medium term uptrend. On further upside offensive, Upside target resides at the 1.3306 level where a break will aim at the 1.3350 level and then the 1.3400 level. Its weekly RSI is bullish and pointing higher supporting this view. On any pullback back from its present price levels, it will aim at the 1.2822 level. Below here stands another support at the 1.2660 level with a cut through there calling for a run at the 1.2498 level. All in all, EUR faces further upside threats in the new week.