EURUSD Forecast:

The EURUSD attempted to push higher yesterday, topped at 1.3535 but whipsawed to the downside, bottomed at 1.3395 and closed at 1.3412 after a better than expected US consumer confidence data. Technically this fact could end the bullish correction scenario testing 1.3250 and 1.3100 area. Today we will have unemployment and CPI numbers from the Euro zone. Good results may support the Euro and keep the bullish correction intact testing 1.3535 and 1.3600 region while bad results should trigger further significant drop. Immediate resistance at 1.3450/80 area. Break above that area could trigger further upside pressure but as long as price still move inside the bearish channel the main outlook remains bearish. Initial support at 1.3365 area. Break below that area could trigger further bearish momentum testing 1.3250.

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