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> Deltastock Daily Fx Analysis, March 31, 2009
Stoyan Mihaylov
post Mar 31 2009, 10:54
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March 31, 2009
Current level-1.3245

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.2951 and 1.3834.

Yesterday's low at 1.3112 was a test of the 1.3092 support zone and currently a larger corrective phase is on the run, targeting 1.3328 and probably 1.3410 resistance. Intraday bias is rather neutral, considering the ranging mode at the moment, but on the lower frames there is an uptrend for 1.3328, with a risk limit below 1.3210.

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