Though closing almost flat the past week, EUR continues to retain its broader upside. Risk of a return to the 1.3700 level remains.
Further out, resistance resides at the 1.3800 level followed by the 1.3850 level. Its weekly RSI is bullish and pointing higher supporting this view.
Conversely, on a reversal of its current upside it could recapture the 1.3451 level. A reversal of roles is likely to occur here and turn it higher.
Support lies at the 1.3300 level followed by the 1.3200 level. Below here will aim at the 1.3165 level. All in all, EUR remains biased to the upside.
Guest post by FX Tech Strategy