In long-term trends, since pair is stable above 1.13 handle, we would be buyers and we believe that it is now heading towards 1.15 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 – 12 April
Euro was initially pushed lower in the course of the yesterday's session, but found area around 1.1370 handle to be supportive enough at the moment, with pair rebounding all the way to 1.1450 handle, where pair found resistance and pulled back slightly by the end of the session. As for Tuesday, with no major data releases, we can expect some amount of support around 1.1370 level, at least initially and resistance at 1.1450 and above 1.1480 level in extension, so this is where we would consider placing short-term selling bids.
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