The EURUSD maintained a bearish momentum this week, topped at 1.3716 levels, and broke below support 1.3567. This development leaves the pair targeting the 1.3400 levels where a breach is very likely If seen it will turn focus on the 1.3325 levels, further out will aim the 1.3230 levels. a halt is strongly suggested but a cut will bring a free fall towards the 1.2954 levels.
On the upside, resistance comes at the 1.3716 levels , stability below this level on a weekly closing basis will keep the pair under pressure with risk to the downside , break of 1.3716 will confirm short term bottoming , If seen, the pair is likely to recapture the 1.3892 levels, a halt is suggested but a breach will call for a run to the 1.4280 levels.
In all, the EURUSD is likely to retain to its medium-term downside bias as long as resistance 1.3716 holds, break of 1.3716 will reverse risks to the upside towards 1.3892 and higher.