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Lockdown extension keeping the Euro under pressure – EUR/USD Market Outlook – 23/03/2021

SquaredFinancial

The Euro closed above 1.19 yesterday despite Angela Merkel confirming an extension to the lockdown until April 18. Rising coronavirus concerns in the EU are pushing the USDollar higher, however so far the EURUSD has failed to pivot back above the 1.1955 resistance. The focus now shifts to Powell’s testimony, although it is widely expected that the Fed will keep its dovish tone intact. Technically, the pair remains in the same range, and a retest of our 1.1870 key support level today is highly likely.

Support: 1.1870 / 1.1835
Resistance: 1.1955 / 1.1990

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/lockdown-extension-keeping-the-euro-under-pressure-eur-usd-market-outlook-23-03-2021
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