EUR/USD – Levels to watch

  • The move in EUR/USD looks overextended and I don’t think that this rally will just continue without a retracement first
  • A bit of overreaction in the market and the odds that we will see sharp reversal in the next 48 hours is quite high
  • To the topside, the key levels to watch are 1.1530, which is the February high, and then the pre-QE highs at 1.1650 & 1.1670
  • To the downside, expect intraday support at 1.1370 & 1.1340
  • Support then seen at 1.1280, with 1.1210/20 the major s/t support area


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