EUR Trading Outlook (21-03-2014)

AUD/USD: Asian sellers are touted above 0.91 and the 200 DMA & TL off April’s high should continue to weigh on the pair. However, a return above 0.91 cannot be ruled out. A break of 0.8980 or 0.9150 would give better indication for the pair, otherwise, range trades still hold.

EUR/USD: Bearish sentiment increased for EUR/USD as price closed below 21 DMA and bull channel base. Downward biased day/week RSIs add to the bearish outlook. If the pair fail to close near or above 1.3850 then it will more likely to test support at 1.3700. Consumer confidence will be due tomorrow, a poor data will give bears more confidence.