EUR Trading Outlook (20-03-2014)
AUD/USD: AUD bears pierced the 200 hour MA, hitting a low of 0.9020. Little bounce was seen. Bears are fighting back as daily and weekly RSIs diverge on the new trend high set overnight and the pair is back below 21 week MA. Immediate support comes from the 21 DMA and March 13 low.
EUR/USD: Key support near 1.3830 was breached and stop below it were run. The pair continued to test near the 21 DMA (1.3805) as it hit a low of 1.3810. A break below the 21 DMA would increase the chance of testing 1.3700 levels.
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