Quick look: EUR/USD eyes trend line resistance

Look what has dollar selling done to EUR/USD pair. I have been calling for a rebound since last few days in almost all of my posts on EUR/USD pair since the spot was repeatedly bouncing off from the area around 1.0845 (61.8% Fibo Dec-Feb rally).

Plus, in my first every audio recording on EUR/USD and ECB rate decision (here EUR/USD and ECB rate decision audio analysis) I had said the possibility moving back to 1.10 (rising trend line resistance) ahead of the ECB are high.

It seems charts don’t lie and we have the evidence here. Lets take a look at EUR/USD daily chart

EURUSD D1 (03-04-2016 0035)

Major resistance levels from here are –

  1. 1.10
  2. 1.1048 (50% Fibo)
  3. 1.1088

Support levels are

  1. 1.0940
  2. 1.0868
  3. 1.0845-1.0825

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