EURUSD Daily Analysis – March 13, 2018

EURUSD remains in the short term downtrend from 1.2446, the bounce from 1.2273 could be treated as correction for the downtrend. Near term resistance is at 1.2390, as long as this level holds, the downtrend could be expected to resume and another fall towards 1.2155 is still possible after the consolidation. Support is at 1.2273, a breakdown below this level could signal resumption of the downtrend.

EURUSD 4-hour chart