EURUSD Forecast

The EURUSD didn’t make significant movement yesterday, but corrected lower earlier today in Asian session, hit 1.3563. The growing tension in Libya and Middle East triggered risk aversion sentiment, lead Dollar higher, sent Gold back above 1400 level and Euro technical bullishness is halted. The bias is bearish in nearest term testing 1.3530. A clear break below that area could trigger further bearish pressure re-testing 1.3420 key support area. Immediate resistance at 1.3650. Clear break above that area would give the bullish scenario another chance testing 1.3743 region before testing 1.3800 – 1.3860 key resistance area.

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