EUR Trading Outlook (25-03-2014)

AUD/USD: AUD pierced the 200 DMA (0.9139) at the start but slid beneath it again and sat above 0.9125 late in the day. Bulls continue to gain confidence and tech bolster their case. Day/week RSIs are biased up. Long lower wicks on recent daily candles also suggest higher levels are due. A clean break above the 200 DMA puts 0.9205/25 resistance in play. Beyond that zone there will be little resistance until 0.9450.

EUR/USD: Bears pushed the pair to 1.3760 but no further drop were seen. A massive run from just below 1.3800 took hold, 1.3820/25 stops were run and the pair quickly spiked up to 1.3877. Bulls are back in the game as the pair breaks above the 21 DMA into the old bull channel off the Feb low. If 1.3880 resistances get cleared, a retest of the March high looks likely.