EURUSD: Although its broader bias remains lower having declined for the past week, the pair may have triggered a corrective recovery following its sharp rally on Friday. Retention of that tone as we approach a new week will confirm the above view suggesting further up move towards the 1.3568 level, its Mar 22'10 high. Beyond that level will extend upside gains towards its Mar 15'10 low at 1.3638 ahead of its Mar 17'10 high at 1.3816 and next the 1.3838 level, its Feb 09'10 high. A loss of the latter will create scope for further upside gains towards its Feb 03'10 high sited at 1.4025. However, the risk to this analysis will be a break back below the 1.3266 level, its 2010 low thus opening the door for further downside towards its Jun 03'09 low at 1.3211 and then its big psycho level located at 1.3000.
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