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EUR/USD Daily Forecast - 23 March

Tuesday, Mar 22 2016

Euro was initially pushed lower in the course of the yesterday's session as Brussels attacks had impact on the pair. However, pair managed to rebound finding area around 1.12 handle to be supportive enough. As for Wednesday we can expect some amount of support around 1.1150 level, at least initially and resistance above 1.1250 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, despite recent pullback, we would still be buyers and we believe that pair can go as high as 1.15 handle given enough time. We have no interest in selling at the moment, as we believe that there is significant amount of support for this pair all the way to 1.1050 level.

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