The EURUSD maintained a bullish momentum last week after topping at the 1.3451 levels, according to the daily chart, the pair loses some of its upside momentum , support comes at the 1.3334 ahead of the 1.3323 levels, losing both levels on a daily closing basis will confirm short term topping at the 1.3451 levels, If seen , next support is at 1.3265 levels ahead of 1.3205/1.3187 levels, below 1.3205/187 will open 1.3066/1.3050 levels.
On the upside , a failure to hold below the 1.3323/13334 levels could mean a return to the 1.3451 levels, however, to resume its upside offensive, the pair will have to hold above the 1.3451 levels on a daily closing basis, If seen , It will target the 1.3600 levels where a breach will turn focus on the 1.3700 levels.
In all , a consolidation below the 1.3451 levels is likely to bring a sudden fall towards the 1.3205 and possible lower , while a consolidation above the 1.3451 levels will bring a sudden rise towards the 1.3600/700 levels.
On the weekly chart , as long as 1.3230 holds on a weekly closing basis, sudden rise towards the 1.3700 levels couldn't be ruled out , losing 1.3230 on a weekly closing basis, will confirm short term topping and flip bias back to the downside towards the 1.3000/1.2800 levels.
Support and Resistance levels : 1.2755 , 1.2922, 1.2992,1.3050, 1.3066, 1.3187,1.3205,1.3265, 1.3323, 1.3334,1.3415,1.3615,1.3710
Trend Strength (daily chart):
Bullish : above 1.3451
Neutral : below 1.3451
Bearish : below 1.3187
Key data/events which may influence EURUSD next week:
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EURUSD Daily Chart