We can say, the positive developments of European side are playing an important role in the positive trend of parity during the month of March. Especially, the elections in the Netherlands experienced a positive trend for the global markets. So, the economy started to take recovery signals. The parity reached to 1.0780 level after the results of elections. In addition, the Fed’s interest increase decision was the other positive instrument for the EUR/USD parity because the Dollar index lost value after the decision.
When we look at the technical analysis, the weak course seen on the Dollar was valued as an upsurge by all developed country currencies. It is important to see persistence above the 1.0765 level in order to see the gains in the EURUSD, while resistance levels of 1.0820 and 1.0880 can be targeted in the upside. Supported levels of 1.0700 and 1.0660 can be monitored at the discontinuities. The stronger side of the parity will be Euro for a while, but the French elections will be the next determinant of the parity level in the near future.
Support levels : 1.0700 and 1.0660
Resistance levels : 1.0820 and 1.0880
- Date: 30 March 2017 Thu 18:15
- Last Added
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