EURUSD: Bull Pressure Targets The 13400/50 Levels.

EURUSD: Further bullishness saw the pair extending its gains the past week and opening the door for more upside in the new week. While holding firmly above the 1.3242 level, additional strength is expected towards the 1.3400 level and then the 1.3450 level. A cut through here will expose the 1.3500 level. Its weekly RSI is bullish and pointing higher suggesting further upside. On the downside, support comes at the 3242 level where a reversal of roles as support is likely to occur and turn it higher. But if taken out expect more downside towards the 1.3150 level followed by the 1.3050 level and then the 1.3000 level. All in all, EUR continues to retain its medium term upside bias.