Having put in another week of strong gains on Friday and held above the 1.3093 level, its May 10 high and its psycho levels at the 1.3100/1.3200 levels, further bullish offensives are now expected. In such a case, its May 03'10 high at 1.3310 will be targeted initially with a break through there aiming at its .50 Fib Ret (1.5143-1.1875 decline) at 1.3500 ahead of the 1.3691 level, its April 12'10 high. Its weekly studies are bullish and pointing higher supporting this view. Alternatively, if a corrective weakness is triggered, the 1.3200,1.3100/1.3093 levels will be targeted where a reversal of roles is expected to turn the pair higher again. Below there if seen will clear the way for a run at the 1.3000 level, its psycho level and possibly lower. On the whole, having resumed its short term uptrend, further higher prices are likely in the days ahead.

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