EURUSD: While EUR may have closed marginally higher after reversing most of its earlier gains for the week, it continues to hold on to its short term uptrend bias. This leaves EUR targeting the 1.3171 level, its Sept 17’2012 high with a turn above here calling for a move higher towards its weekly ema at 1.3415 level. Its weekly RSI points higher suggesting further strength. On the downside, the risk to this analysis will be a return to the 1.2824 level. Further down, support lies at the 1.2692/1.2748 levels where a reversal of roles could occur. This could see the pair turn higher. However, if this fails to happen further declines will aim at the 1.2442 level. All in all, EUR looks to recapture the 1.3171 level and trigger further upside
