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, though initial target is set at 1.13 handle. 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, from where pair could easily bounce out.
Last modified on Thursday, 24 March 2016EUR/USD Daily Forecast - 25 March
Euro was initially pushed lower in the course of the yesterday's session, going all the way to 1.1150 handle where it found some amount of support, and managed to rebound by the end of the session which was overall steadier within 40 points. Tomorrow is a Good Friday holiday so we can expect a lack of volatility. We can expect some amount of support around 1.1140 level, at least initially and resistance on 1.12 and above 1.1230 level in extension, so this is where we would consider placing short-term selling bids.
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