In long-term trends, after this increase, we would be buyers and we believe that pair can go as high as 1.15 handle given enough time, especially now when we have break above 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.
EUR/USD Daily Forecast - 31 March
Euro was pushed higher in the course of the yesterday's session, breaking above 1.13 and even 1.1350 handle, however, pair found area around 1.1360 level to be too resistive at the moment and pulled back by the end of the session, though some amount of support is formed at 1.13 handle. As for tomorrow, we can expect some amount of support around 1.1280 level, at least initially and resistance at 1.1350 and above 1.1380 level in extension, so this is where we would consider placing short-term selling bids.
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