EUR closing lower for the week, further downside is likely towards the 1.3500 point. A break will aim at the 1.3450 point where a violation will pave the way for a move lower towards the 1.3400 point. If this continues, expect further downside to occur towards the 1.3350 point. Its weekly RSI is bearish and pointing lower supporting this view. On the other hand, resistance lies at the 1.3578 point where a violation will aim at the 1.3620 point followed by the 1.3685 point, its May 2014 low. A breach of here will resume its broader downtrend and aim at the 1.3700 point.
finally, EUR remains biased to the downside in the short term.
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