EUR/USD: The pair now faces the possibility of correcting its current recovery as attempts on the 1.3431 level failed in early trading Friday. Though biased to the upside nearer term, a decisive break and hold above 1.3431, its high of Jan. 4, will have to occur to resume that trend. Further out, the 1.3494 level will serve as the next upside objective at which another price hesitation is likely to occur. Beyond there will call for more recovery towards the 1.3785 level. On the downside, below its 2011 low at 1.2874 will have to be traded to reverse its current upside attempts. This will open the door for a decline towards the 1.2713 level and subsequently the 1.2600 level. All in all, with a bullish recovery tone still seen, risk remains higher though hesitating.