EURUSD Daily Forecast Mar 17 2020

EURO -dollar -65984545-x

EURUSD Consolidates With Downside Bias…

The EURUSD remains on the downside as long as 1.1220 resistance holds on a daily closing basis. Support comes at 1.1050 level. A halt is likely, but a cut would open 1.0930 next, further down, support comes at the 1.0780 levels…

On the upside, resistance comes at the 1.1220 level. Above 1.1220 sees recovery threats to 1.1270/1.1495 levels before another fall.

In conclusion: The EURUSD sees downside threats below 1.1220 levels…

Support: 1.1050, 1.0930, 1.0780, 1.0610

Resistance: 1.1220, 1.1270, 1.1370, 1.1495

EURUSD Daily Forecast Mar 17 2020Key data/events which may affect EURUSD today:
  • German ZEW Economic Sentiment (Mar) at 10:00 GMT.
  • U.S Retail Sales Data (MoM) (Feb) at 12:30 GMT.