March 15 - Mixed skies but clouds continue to hover for the EURUSD as it consolidates after holding off a run at 1.30. However, it would need to move back above the 50 day mva (1.3093), at a minimum, to posptone the risk. Watch US data and US bond yields today as the rise in yields has been a factor behind the firmer dollar. Currently weaker crosses (e.g. eurjpy, euraud) so far capping the upside.
Jay Meisler's Daily Forex WeatherMap
March 15, 2012 EURUSD (Current rate: 1.3050, O/N Range 1.3004 -1.3064)
Outlook:Price action suggests some easing of pressures today but EURUSD would need to establish 1.3050+ and then move above 1.3093 to postpone the risk for 1.30 and 1.2973. Look for 1.3050 to set the bias while within 1.30-1.31
Range:
Resistance
1.3148 (50% of 1.3291-1,3004)
1.3114 (38.2%)
1.3090-93
1.3000-04
1.2973
1.2953
Jay Meisler's Daily Forex WeatherMap
March 15, 2012 EURUSD (Current rate: 1.3050, O/N Range 1.3004 -1.3064)
Outlook:Price action suggests some easing of pressures today but EURUSD would need to establish 1.3050+ and then move above 1.3093 to postpone the risk for 1.30 and 1.2973. Look for 1.3050 to set the bias while within 1.30-1.31
Range:
Resistance
1.3148 (50% of 1.3291-1,3004)
1.3114 (38.2%)
1.3090-93
1.3000-04
1.2973
1.2953
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