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EUR/USD recovering after reaching 2003 low, bounce till 1.07310 expected

Thursday, March 12, 2015 12:25 PM UTC

RES 4: 1.1088 (200 day HMA)
RES 3: 1.0792
RES 2: 1.0730 (Ichimoku cloud bottom)
RES 1: 1.0650 (55 day EMA)

PRICE:12 1.0623 @ 12:12 GMT

SUP 1: 1.0620 (61.8% Projection of 1.25685 to 1.10960 from 1.15327)
SUP 2: 1.0573
SUP 3: 1.0504 (2003 lows)
SUP 4: 1.0300

EUR/USD has broken major support 1.0500 and recovered till 1.06419 from that level. This confirms intraday bullishness and bounce back till 1.073 cannot be ruled out.

The pair's minor resistance is around 1.0730 and above it can reach 1.0795/1.0895. Short term trend reversal can happen only above 1.1020 level.

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EUR/USD recovering after reaching 2003 low, bounce till 1.07310 expected

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