The EURUSD still maintain its bullish momentum earlier today in Asian market since triggered by hope on solution of Greek debt problem on Friday, slipped above 1.3450 but retreat lower around 1.3430 at the time I wrote this comment. Situation can be very tricky at this phase. The bias is bullish in nearest term. The major bearish scenario remains intact as long as price stay inside the bearish channel but we have potential upside risk. Note that Greek problem responsible for the Euro bearish momentum. So if the market optimism continues to grow and no longer see Greek problem as serious matter, then we have a good reason for bullish reversal scenario, especially if price violate the bearish channel. Immediate support at 1.3400. Break below that area should keep the bearish scenario intact testing 1.3300 – 1.3250 before testing 1.3100. Initial resistance at 1.3480. Break above that area should trigger further upside pressure testing 1.3530 and the upper line of the bearish channel which can be a serious threat to the technical bearish outlook.
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