EURUSD: With the pair bearish and maintaining its corrective weakness triggered from the 1.3322 level, we could see further declines shaping up. In such a case, EUR could target the 1.3026 level, its Feb 06’2012 low. Further down, support comes in at the 1.3000 level, its big psycho level where a violation will turn attention to the 1.2930 level, its Jan 25’2011 low. Its daily RSI is bearish and pointing lower supporting its current tone. The alternative scenario will be for EUR to return above the 1.3233 level, its Jan 27’2012 high. This will turn bullish risk towards the 1.3375 level, its Dec 12’12 high. A breach of there will aim at its Dec 02’2011 high at 1.3547. All in all, the pair remains vulnerable to the downside having maintained a third day of downside pressure.
