Hey Traders,
Let’s hit the charts and see if we could steal some crumbs off the market on the last day of the month of March.
1. EUR/USD
EUR/USD gave sellers some good pips today. Looking closely you will observe that support level 1.17361 is broken.
However, we would need the close of the daily candlestick before we confirm the breakout. If the breakout is authentic, then we may see sellers continue their party till price hits 1.16177.
Mind you, there may be a pull-back before the downward movement continues.
2. AUD/USD
The AUD/USD has a typical head and shoulder formation.
All we should be watching out for is the breakout of price through support level 0.75740. If that happens, there is a huge possibility that price may hit 0.74627 as the next possible support level
On the other hand, if price fails to hit 0.74627, and reverses, then our possible target would be resistance level 0.78004
What say you?
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