EURUSD: Though the pair reversed most of its Monday losses on Tuesday, it will have to break and hold above the 1.2748 level to trigger its corrective recovery. In such a case, the 1.2824 level will be targeted where a breach will call for a move further higher towards the 1.2902 level. Its daily RSI is bullish and pointing higher suggesting supporting this view. The alternative scenario will be for the pair to return to the 1.2441 level where a break will aim at the 1.2286 level. Further down, support lies at the 1.2149 level. EUR could turn higher on testing and holding at this level but if that breaks, further declines could shape up towards the 1.2100 level. All in all, EUR remains biased to the upside on corrective recovery though vulnerable.
