EURUSD: Strengthens, Set To Extend Bullish Momentum.EURUSD: With a third week of upside gains occurring the past week, further bull pressure is expected towards the 1.3483 level. A breach will pave the way for a move further higher towards its Dec 02’2011 high at 1.3547. Further out, a violation of the 1.3547 level will target its weekly 200 ema at 1.3642. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, the risk to this analysis will be a return to the 1.3003 level, its Mar’2012 low followed by the 1.2975 level. An eventual break of here if seen will push the pair further lower towards the 1.2879 level, its Jan 23’2011 low . Further down, support lies at the 1.2620 level. All in all, EUR remains biased to the upside on further offensive.
