The EUR / USD pair, in the morning of the American session on Friday, is falling near the 1.1920 support, there is the 4-hour 21 SMA, this level can act as a strong support, if the Euro trades below this level could occur a fall to the support of 1.1840.
The fall of the eur / usd is correlated with the recovery of the US dollar (USDX), we note that it is breaking a key level of 91.80, which could be more downward pressure for all crosses with the dollar.
The dollar is up on the back of rising ten-year US Treasury yields, which are currently at 1.60%, their highest level since March 8.If the EUR / USD pair trades below 1.1900, it will be a good point to sell with targets at the 1.1840 1/8 Murray level.
If the EUR / USD pair trades below 1.1900, it will be a good point to sell with targets at the 1.1840, 1/8 Murray level.
Conversely, if the pair consolidates above the 21 SMA, there could be a bullish bounce to the 1.1962 resistance zone, (2/8 Murray) and strong resistance at 1.1986.
We recommend buying or selling only if the price is above or below the 21 SMA in the short term.
Support And Resistance Levels For March 12 - 15, 2021
Resistance (1) 1.1960
Resistance (2) 1.2008
Resistance (3) 1.2036
Support (1) 1.1887
Support (2) 1.1859
Support (3) 1.1819
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Trading tip for EUR/USD for March 12 - 15, 2021
Buy if rebound at 1.1920 (SMA 21) with take profit at 1.1962 and 1.1986, stop loss below 1.1885.
Sell if breaks 1.1900 (SMA 21) with take profit at 1.1840 (1/8), stop loss above 1.1935.
