Forex world

March 16, 2023

EUR/USD further losses likely below 1.0804

- EUR/USD picks up some buying interest and retakes 1.0600.

- The weekly low just above 1.0800 caps the upside so far.

EUR/USD manages to generate some upside traction and reclaims the area above the 1.0600 hurdle ahead of the ECB on Thursday.

Occasional bullish attempts, in the meantime, should clear the weekly high at 1.0804 (February 14) to allow for the continuation of the uptrend in the short term

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0323.

EUR/USD daily chart

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