16.03.2020 EURUSD Analysis

16.03.2020 EURUSD Analysis On the fourth trading day of the week, while the PPI in the US fell by 0.6 percent in February, industrial production data of the Euro Area increased by 2.3 percent before the coronavirus. On the last trading day of the week, the consumer confidence of the University of Michigan in the USA fell from 101 to 95.9 in March. In Germany, the EU harmonized CPI rose 0.6 percent on a monthly basis and 1.7 percent on an annual basis in February. While the effects of the virus spreading in the global markets continue, the government of Chancellor Merkel in Germany emphasized that German companies and their employees will use all their means to combat the deepening economic effects of the coronavirus. It was observed that the pair continued its downward movement on the fourth day with the developments followed at the end of the day.

16.03.2020 EURUSD Analysis

Technically, it has been observed that the pair continues to be decisive at the 1,1100 level. If it remains below the resistance level of 1.1150, the levels of 1.1050, 1.1000 and 1.0960 are important support levels to follow. In case of an upward movement of the pair, resistance levels of 1.1150, 1.1190 and 1.1240 can be followed. [mstock id = "1171"]