EURUSD: The pair may be hesitating after testing a high of 1.3590 on Thursday but while it holds above the 1.3382 level, its Mar 31'10 low, a firm break and close above the 1.3568 level, its Mar 22'10 high is likely. A violation of there will drive the pair further higher 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. Further out, its Feb 03'10 high sited at 1.4025 comes in as the next upside. Its daily stochasticsremains supportive of this view. However, in the absence of the above view, lower level prices are expected towards the 1.3458 level, its April 01'10 low ahead of the 1.3382 level and then its 2010 low at 1.3266 with a decisive break and hold below there activating the resumption of its medium term downtrend towards its Jun 03'09 low at 1.3211 and then its big psycho level located at 1.3000. The latter level if seen should turn the pair off on initial test.
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