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EUR/USD Analysis: Could test rising trend line support near 1.12

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Euro ended the day on a negative note below confluence of Fibo levels noted at 1.1257 (61.8% of 1.1714-1.0517) + 1.1253 (100% Fibo of 1.0517-1.1060-1.0711) as slightly hawkish comments from Fed officials triggered unwinding of dollar shorts. German IFO reading and preliminary PMI figures are due for release today. Across the pond, Fed’s Evans is scheduled to speak. Technicals – Fresh bids anticipated near 1.12 Euro’s daily closing below 1.1257 (61.8% of 1.1714-1.0517) + 1.1253 (100% Fibo of

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