EUR/USD Weekly Outlook

13 March 2010 @ 10:52 am EDT

EUR/USD's consolidation from 1.3443 continued last week and rose further to as high as 1.3795. Initial bias remains on the upside this week and stronger rise could be seen. But after rally, we're expecting strong resistance at 1.3852 (38.2% retracement of 1.4578 to 1.3443 at 1.3861) and bring fall resumption . Below 1.3622 minor support will flip intraday bias back to the downside for retesting 1.3435 low first.

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