EURUSD forex technical analysis 25 March 2015
Another attempt to crawl into 1.10 has been knocked back, and like yesterday we're finding support around 1.0970
EUR/USD 15m chart
Yesterday we had the US CPI numbers to tip the euro over but that's the main data done for the day so there's every chance that if the support holds now, the euro tries another attempt. If it does, then it's likely to break properly and will be looking at yesterdays highs just shy of 1.0130, and then the FOMC pop high at 1.0139. Those levels come in around the 61.8 fib of the Feb drop
EUR/USD daily chart
The next decent resistance above is the 1.1111 level
If you're on the outside looking in on this euro strength then a break of 1.10 could well be a point to join in. Trade the break with a tight stop, maybe below the 1.0970 level and watch how the break develops. If we subsequently hold a retest of 1.10 that should give the buyers fresh impetus to carry on going up