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EUR/USD Daily Forecast – 15 April

Thursday, Apr 14 2016

Euro went back and forth in the course of the yesterday's session, with support around 1.1230 level and resistance near 1.13 handle, with pair essentially not doint much. As for Friday, we can expect some amount of support around 1.12 level, at least initially and resistance at 1.13 and above 1.1330 level in extension, so this is where we would consider placing short-term selling bids.

In long-term trends, despite this decline, we have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use this pullback as a buying opportunity, since we believe that pair will go all the way to 1.15 handle given enough time.

More in this category: « GBP/USD Daily Forecast – 15 April AUD/USD Daily Forecast – 18 April »

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