FX.co ★ Technical analysis of EUR/USD for March 26, 2015

Overview:

• Resistance of the EUR/USD pair was broken and it turned to support at the level of 1.0880 this week. The pair has already formed new strong support at the level of 1.0880. Moreover, after the pair has closed above this level today, it is signing the bullish market from 1.0880. Additionaly, the RSI has still called for uptrend at the level mentioned before. Consequently, the price of the EUR/USD pair indicates a bullish opportunity at the level of 1.0880 with the first target at 1.1041 in order to form a double top, and continues towards 1.1080 to test weekly resistance 1..
• However, in case a reversal takes place and the EUR/USD pair breaks through the new support level of 1.0880, the market will move to further decline to 1.0783 in coming two days.

Intraday technical levels:

Date and Time:26/03/2015 13:10

Pair:EUR/USD

• R3: 1.1136
• R2: 1.1074
• R1: 1.1023
• PP: 1.0961
• S1: 1.0910
• S2: 1.0848
• S3: 1.0797