EURUSD Daily Analysis – March 9, 2017

EURUSD moved sideways in a trading range between 1.0493 and 1.0679. As long as 1.0679 key resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.0828 and further decline to 1.0400 area is possibly after the sideways consolidation. On the upside, a break of 1.0679 resistance will indicate that the downtrend had completed at 1.0493 already, then the following upward movement could bring price to 1.0750 area.

EURUSD chart