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 .