10:00, 25 March

Daily Analysis

On Tuesday last week we covered the EURUSD which finished the week falling strongly back to the current key level of 1.13. In the last couple of weeks the EURUSD has rallied well and returned back above the 1.13 level after dropping sharply to an 18 month low around 1.1175. It performed a similar rally several weeks ago moving back above the key level of 1.13 after having dropped to a then three month low below 1.1250, which moved it to a three week high above 1.14.
In early February the EURUSD was sold off after running into resistance at the other key level of 1.15, as it maintains it trading range between 1.13 and 1.15. On numerous occasions in the last few months the EURUSD has enjoyed rock solid support from the key 1.13 level and will be looking to do so again.