Euro-USD Firms, Points Higher

With the euro-U.S. dollar pair now strengthening following a halt of its two-day weakness started from the 1.3913 level, further upside risk is seen toward the 1.3913 to 1.3937 range.

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Above here will bring further gains toward the big psychological level of 1.4000 and then the Sept. 6 high of 1.4283. Its daily RSI is bearish and pointing higher. On the downside, the risk to this analysis will be for the pair to return below the 1.3144 level, its October low, annulling its entire corrective strength and then targeting the 1.3000 level, its big psychological level. Price hesitation ahead of or at this level could occur and turn the pair back up. If that level is taken out, further weakness should shape up toward 1.2875.Follow TheStreet on Twitter and become a fan on Facebook. All in all, with EUR maintaining its recovery tone above the 1.3690 level, risk of further upside gain remains a possibility.

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