Quick look: EUR/USD eyeing 1.1173

EUR/USD daily chart

EURUSD D1 (03-15-2016 1827).png

Euro’s rcvry frm low of 1.1071 coupled with risk-off tone in the US equities and weak US advance retail sales data indicates EUR cud be eyeing 1.1173 (23.6% of Dec low – Feb high)

however, bulls need to keep a close watch out on failure to sustain abv 5-DMA of 1.1105 culd send prices drift lower to 1.1071, which if breached wuld shift risk in favor of drop to 200-DMA at 1.1045.

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