EURUSD Analysis – March 30, 2013

EURUSD’s downward movement from 1.3711 extends to as low as 1.2751. Further decline is still possible next week, and next target would be at 1.2500 area. Resistance is at 1.2950, only break above this level will signal completion of the downtrend.

For long term analysis, EURUSD is in uptrend from 1.2042, another rise towards 1.4500 could be expected after consolidation.

eurusd daily chart