EUR Trading Outlook (11-03-2014)
AUD/USD: Tech suggest lower levels are due. AUD/USD failed to hold above the 21 week MA & 38.2 Fib and downard biased day/week RSI should give bears the edge. Bid remain at 0.8995/10 area where the 10 & 21 DMA reside, a break below would open a test for last week’s low of 0.8890.
EUR/USD: The pair managed to hold above 1.3880 but rallies were limited as ECB’s Noyer stated displeasure with the Euro’s rise. The pair slipped to a low of 1.3862. Resistance still at 1.3920-30 area, 4 hour pivot at 1.3850 and next support at 1.3815.
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