EUR Trading Outlook (31-03-2014)
AUD/USD: For now, bulls still holds the reign’s longer term. Bull hurdles are offering around 0.9300/15 and the 61.8% Fib of 0.9758-0.8660. A break above those levels put the late November high (0.9448) in play.
EUR/USD: The pair slid to a new trend low of 1.3705 on soft Spanish & German CPI data. Short covering started as EUR/JPY rallied, supporting the EUR/USD to a high of 1.3776 but dropped back down to 1.3740-50 area as market awaits for French GDP and EZ CPI. If data comes in poor, we may see 1.3640/70 area tested and a breakthrough would see bears push the pair further.
Back to EUR Trading Outlook Archive
