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EUR/USD Daily Forecast – 15 March

Monday, Mar 14 2016

After euro was initially pushed higher, it spend US part of the session pulling back all the way to below 1.11 handle, however, still remains above important supportive points at 1.1050 and 1.10 handle. With no major data releases from Eurozone tomorrow, focus will be on US figures.. Pair is likely to find some amount of support around 1.1050, initially, and 1.10 in extension, while area around 1.1180 level, yesterday's high, should offer some amount of resistance as this area is seen as a recent consolidation top.

On a long-term basis, despite this decline, after we have seen decisive break above 1.1050 handle last week, we would be interested in buying the pair with initial target set at 1.13 handle. Selling is not an option at the moment.

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