EUR Trading Outlook (19-03-2014)

AUD/USD: Bulls remains in game for now, targeting 0.9150, a break would form a new up trend. Upward biased day/week RSI and widening spreads may aid in bulls taking complete hold of AUD. A break above the current resistance zone opens a test of 0.9205/15 (50% Fib of 0.9758-0.8660, late Nov high).

EUR/USD: German ZEW had the pair dropped to a low of 1.3880. However, Putin’s speech was considered as positive and spiked the yen crosses immediately. EUR/JPY rallied from below 140.80 to 141-81 in no time but was unable to break 141.95 resistance. Reports showed Ukrainian military base being fired upon erased much of EUR’s early gains.