The EURUSD maintained a bullish momentum last week after topping at 1.3305. Now the pressure will be on the key resistance 1.3305. The EURUSD will have to hold above the 1.3305 levels on a weekly closing basis to push the market for further upside gains. If seen. Expect the market to strengthen further towards the 1.3450 levels ahead of the 1.3650 levels, where a breach will turn focus to the 1.3860 levels.
On the downside, support is at 1.2955 ahead of the 1.2745 levels, a failure to hold above the 1.3305 levels could mean a return to the 1.2955 levels, where a breach will look for the 1.2745 levels, losing 1.2745 will expose the 1.2661 levels and target the 1.2400 levels.
Considerations: a failure to close on weekly above 1.3305, followed by a weekly close below 1.2955, would mix up things and bring consolidation – sideways market – before the next move.
Recommendations: Buy EURUSD – into weakness – after rejection on daily from the 1.3090 / 1.3150 levels, with a target towards the 1.3450 levels, and 1.3650 as a second target.