Being supported by the lower border of the price channel on daily chart, EURUSD rebounded from 1.3448 level. Further rise could be seen next week and target would be at 1.3900-1.4000 area. On the downside, a breakdown below 1.3448 could indicate that the downtrend from 1.4281 has resumed, then the following downward move could bring price to 1.3100 area.
For long term analysis, EURUSD is in consolidation of long term uptrend from 1.1876. One more rise towards 1.4700 area is still possible after consolidation.
