EURUSD Daily Analysis – March 14, 2018

EURUSD’s bounce from 1.2273 extended to as high as 1.2407. Further rise to test 1.2446 resistance is possible. A breakout of this level could signal resumption of the uptrend from 1.2155, then next target would be at 1.2555 previous high resistance. On the downside, as long as 1.2446 resistance holds, the bounce would possibly be correction for the downtrend from 1.2446, a breakdown below 1.2273 support could trigger another fall towards 1.2155 support.

EURUSD 4-hour chart