Technical analysis of EUR/USD for March 20, 2014




EUR/USD is trading near key support at the level of 21EMA at 1.3816. Today in Asia, the pair has broken the level and made a low at 1.3814 as of now. As we recommended earlier, hold shorts until the pair crosses the level of 1.396. In the daily chart, the RSI is showing a sell sign. For today, trading perspective at 1.3803 is the key level, if the pair holds this level, we will see some pullback from the current level.
On the upside, 1.3893 and 1.3945 is the major resistance level fon a hourly basis. In the H4 chart, RSI is in oversold condition, we can see some pullback. On the downside, if the pair breaks the level of 1.3803 it will drift towards 1.3774 1.3708, and 1.3643.

Recommendation

- 1.3803 is the key level.

Intraday Buy with sl 1.3773 for targets at 1.3899, 1.3945.

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