EUR/USD Daily Forecast – 17 March

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Wednesday, Mar 16 2016

After initial steadier European part of the session without no major data releases from Eurozone, euro was pushed above 1.12 handle in the course of the yesterday's session due to dovish Fed stanzas. As for tomorrow, markets are still likely to be influenced by Fed. Pair is likely to find some amount of support around 1.1150, initially, and 1.11 in extension, while area around 1.13 level, should offer some amount of resistance as this area is seen as a recent consolidation top.

On a long-term basis, as long as we are above 1.10 handle we would be interested in buying the pair, and especially now when we have seen this breakthrough, we believe that pair could even reach 1.15 handle if we break above 1.13 handle.

More in this category: « GBP/USD Daily Forecast – 17 March AUD/USD Daily Forecast - 18 March »

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