In long-term trends, we have no interest in selling the pair as there is plenty of support all the way to 1.1050 handle. We would use any pullbacks as a buying opportunities, since we believe that pair will go all the way to 1.15 handle given enough time, though we cannot expect an easy way up.
EUR/USD Daily Forecast – 21 April
After it was initially pushed higher, euro found area around 1.1380 level to be too resistive in the course of the yesterday's session and pulled back by the end of the day all the way to 1.13 handle, as traders are being cautious ahead of tomorrow's ECB Press Conference. We can expect some amount of support around 1.1250 level, initially and 1.12 in extension, while resistance can be expected at 1.1380 and above 1.1420 level in extension, so this is where we would consider placing short-term selling bids.
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