EURUSD: The pair continues to weaken selling off on Tuesday and following through lower in today’s trading session. While maintaining below its broken key support at the 1.2620 level, further declines is likely towards the 1.2400/1.2350 levels with a breach of here turning attention to its distant support located at the 1.2149 level. Its daily RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to break and hold above the 1.2824 level to annul its present downside and bring further upside gain towards the 1.3000 level. Father out, resistance resides at its April 14’2012 high at 1.3146. All in all, EUR remains biased to the downside medium term.
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