EUR/USDâs latest mid-March rebound is capped under the key level at 1.3450, while also being weighed down by a renewed DeMark™ exhaustion signal.
Only a sustained daily close back above 1.3436/60 unlocks an extended recovery into our upside target zone at 1.3593 (200-day average).
Meanwhile, the bears need to close decisively below 1.3140, then 1.3000 (psychological support), in order to activate an important multimonth reversal pattern into 1.2630 (16 Jan swing low).
Inversely, the USD Index has temporarily dipped lower beneath key support at 79.07 (08 March low), with next support at 78.10.
Expect these levels to act as one of the last points of defence for a relaunch of the greenbackâs recovery which is still part of the bullish cycle into 80.73 (15th March high) and 81.78 (13th Jan swing/12 month high).