17.03.2020 EURUSD Analysis

17.03.2020 EURUSD Analysis On the last trading day of the past week, the consumer confidence of the University of Michigan in the USA was followed, while the leading CPI data was followed in Germany. On the first trading day of the week, the Fed surprisingly went down to a 100-point interest rate cut, dropping its funding interest to a range of 0 to 0.25 percent and committed to increasing bond purchases by at least $ 700 billion. While weak economic data flow continued in the Euro Area during the day, the New York Branch Manufacturing Index in the USA fell to minus 21.5, the lowest level recorded since March 2009. While the effects of the virus spreading in the global markets continue, it is observed that the pair continues its upward fluctuating movement with the developments observed at the end of the day. Technically, it has been observed that the parity continues to be decisive at 1.1180. If it remains above the 1.1140 support level, 1.1220, 1.1260 and 1.1300 levels are important resistance levels to follow, respectively. In case of a downward move, the support levels of 1.1140, 1.1110 and 1.1080 can be followed. [mstock id = "1171"]