EUR/USD Daily Technical Analysis for March 20, 2017

The EUR/USD edged lower on Friday after climbing for two consecutive trading session in the wake of the Federal Reserve meeting. Strong dollar comments from Treasury Secretary Mnuchin gave the greenback a boost. Resistance on the EURUSD chart is seen near a downward sloping trend line that comes in near 1.0785, and a break of this level would lead to a test of the February highs at 1.0829.  Support on the Euro to US dollar is seen near the 10-day moving average at 1.0646.

Treasury Secretary Mnuchin Give a Strong Dollar Policy Statement

A strong dollar statement was issued by Treasury Secretary Mnuchin along with a variety of other remarks following his meeting with German Finance Minister Schaeble. He said that the stronger dollar “is a good thing in the long-term” and a sign of increasing confidence in the reserve currency, though it is important that countries do not manipulate currencies.

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SymbolLast PriceChange
EURUSD
EUR/USD
1.1828
+0.0086
+0.73%
GBPUSD
GBP/USD
1.3412
+0.0094
+0.71%
XAUUSD
Gold
1255.5
+12.415
+1%
CL
Crude Oil
56.685
-0.7350
-1.28%
SPX
S&P 500
2669.2
+4.5000
+0.17%
DAX
DAX 30
13074.0
-98.000
-0.74%
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