EURUSD Forecast:

The EURUSD was corrected higher yesterday, topped at 1.3735 and closed at 1.3695. This fact should trigger further upside correction testing 1.3850 area. However note that the major bearish scenario remains intact as long as price still move inside the major bearish channel. While technical view suggests the pair is in bullish correction phase even a potential reversal, on fundamental side the Euro zone still have serious problem in Greek and Spain and so far we don’t have a clear clue about how the EU will solve the problem. Immediate support at 1.3690 – 1.3625 area. Break below that area should trigger further bearish momentum re-testing 1.3450.