EUR/USD Daily Forecast – 01 April

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Thursday, Mar 31 2016

After it initially found support around 1.13 handle, euro tested 1.14 handle as a resistance in the course of yesterday's session and in fact found it, pulling back by the end of the session. Focus of tomorrow's session will be on US NFP figures. We can expect some amount of support around 1.13 level, at least initially and resistance at 1.14 and above 1.1450 level in extension, so this is where we would consider placing short-term selling bids.

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.

More in this category: « GBP/USD Daily Forecast – 01 April AUD/USD Daily Forecast – 04 April »

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