EURUSD: With EUR backing off higher level prices to close lower the past week, it remains susceptible. But as long as its present bear threats remain above the 1.2748 level, its broader short term uptrend remains intact. This could eventually see the pair return above the 1.3171 level where a violation will call for a run at the 1.3282 level. Above here will call for a move towards its weekly ema at 1.3415 level. Conversely, support lies at the 1.2800 level. A breather may occur and turn the pair back up but if this fails to occur, expect the pair to decline further towards the 1.2692/1.2748 levels where a reversal of roles could occur. Further down, support lies at the 1.2442 level. All in all, EUR continues to hold on to its short term upside bias though facing bear threats.
