Today’s technical forecast for EURUSD

EURUSD held on to the 1.3300 level and we have raced higher again. The 100 week moving average at 1.3382 could pose a problem and we have resistance again at 1.3395/1.3405 which should remain a very tough obstacle. A good chance therefore of a high for the day again if tested but if we do break above here the next target of 1.3491 should be achieved this week.
1.3310/00 is support today of course but if this is broken we should see a move towards 1.3260/30. Exit all shorts and buy in to longs here expecting a good bounce. We do need a stop loss below 1.3200 however for a test of the next support at 1.3150/25 which should offer an excellent buying opportunity.