EUR Trading Outlook (06-03-2014)

AUD/USD: The pair initially dropped below the 200 hour MA into intra-day support near 0.8960 as USD strength was shown across the board. However, this did not last long and AUD steadily climbed higher. Current resistance at 0.9000/10, a break above there will be testing previous resistances at 0.9050/60 and major resistance of 0.9080/0.91.

EUR/USD: The pair drove down to the support of 1.3700/10 support due to headline stating Russian forces seized two Ukranian missile units. Real money buyer recovered the slide to around 1.3730 in NY open. The pair held at 200 hour MA at 1.3725-40 range ahead of ECB. Traders may look to the 2016 staff projections for inflation, a lower projection may send EUR downwards.