EUR/USD Forecast: March 29-April 2 – Euro Slides Below 1.18

EUR/USD Technical Analysis

Technical lines from top to bottom:

  • We start with resistance at 1.2038.
  • 1.1936 (mentioned last week) is next.
  • 1.1808 is an immediate resistance line.
  • 1.1709 is the first line of support.
  • 1.1538 is a 50% Retracement From the 52 Week High/Low.

I Remain Bearish on EUR/USD

The eurozone economy remains weak, and the EU continues to grapple with a listless vaccine rollout and further lockdowns. The US recovery has been deepening, which bodes well for the dollar. The euro has lost 2.2% of its value in March, and the downward swing could very well continue.

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