EURUSD Daily Forecast Mar 12 2020

EURO - dollar - 65985-

EURUSD Corrective Pullback Remains Intact…

As long as 1.1335/1.1485 resistance holds on a daily closing basis. The EURUSD remains in a corrective pullback mode and further down couldn’t be ruled out. Support comes at 1.1215 level. A halt is likely but a cut would open 1.1093 next, further down, support comes at 1.1045 level.

On the upside, immediate resistance comes at 1.1335 level ahead of 1.1485 level (main). Above 1.1485 will restore the upside momentum and pave the way to 1.1650 level.

In conclusion: The ERUUSD sees corrective pullback threats below 1.1485/1.1335 levels…

Support: 1.1215, 1.1093, 1.1045, 1.1005, 1.0875

Resistance: 1.1485, 1.1650, 1.1770, 1.1920, 1.2085

EURUSD Daily Forecast Mar 12 2020Key data/events which affect EURUSD today:
  • U.S PPI (MoM) (Feb) at 12:30 GMT.
  • ECB Interest Rate Decision (Mar) at 12:45 GMT.
  • ECB Press Conference at 13:30 GMT.