EURUSD is testing 1.3392 key resistance, a break above this level will indicate that a cycle bottom has been formed at 1.2884 level on daily chart, and then further rally could be seen to 1.3500-1.3600 area. If 1.3392 resistance holds, the following downtrend could take price back to 1.2500-1.2600 zone.

For long term analysis, EURUSD might be forming a cycle top at 1.3738 level on weekly chart. Key support is now at 1.2884 level, a break below this level will confirm the cycle top.