18.03.2020 EURUSD Analysis

18.03.2020 EURUSD Analysis On the first trading day of the week, the Fed took a surprise 100 basis point rate cut, taking its funding interest to a range of 0 - 0.25 percent and pledging to increase its bond purchases by at least $ 700 billion. On the second trading day of the week, U.S. retail sales announced in February fell 0.5 percent before the effects of coronavirus on the economy were yet to be seen, while industrial production data rose 0.6 percent. It deepened its fall in March against expectations of -30, taking it to -49.5. During the day, as the effects of the virus spread in global markets continued, the first vaccine prepared against coronavirus in the United States began to be tested on volunteers. With the developments that followed, at the end of the day, the parity continued their downward fluctuating movement. Technically, the pair remains decisive at 1.1030. 1.1060, 1.1090 and 1.1120 levels are important resistance levels to follow if 1.10 continues to remain above the support level. In case of downward movement of the parity, support levels of 1,1000, 1,0970 and 1,0950 can be followed. [mstock id= " 1171"]