EURUSD: With EUR turning higher on Tuesday to halt its weakness, it could be building up energy to recover higher. Support lies at the 1.2800 level where a break will expose the 1.2750 level. Below here will pave the way for a move lower towards the 1.2700 level. If this continues, expect further downside to occur towards the 1.2650 level. On the upside, resistance lies at the 1.2900 level where a break will aim at the 1.2950 level, its psycho level followed by the 1.3000 level. Further out, resistance comes in at the 1.3050 level. All in all, EUR remains biased to the downside in the medium term.
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