Daily Technical Analysis – March 24, 2016

Our preference: short positions below 1.1200 with targets @ 1.1145 & 1.1120 in extension.

Alternative scenario: above 1.1200 look for further upside with 1.1235 & 1.1260 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.1200. The pair remains within a bearish channel.

Our preference: long positions above 1.4050 with targets @ 1.4200 & 1.4240 in extension.

Alternative scenario: below 1.4050 look for further downside with 1.3985 & 1.3910 as targets.

Comment: the RSI calls for a new upleg.

Our preference: long positions above 0.9720 with targets @ 0.9790 & 0.9845 in extension.

Alternative scenario: below 0.9720 look for further downside with 0.9685 & 0.9650 as targets.

Comment: a support base at 0.9720 has formed and has allowed for a temporary stabilisation.

Our preference: long positions above 112.20 with targets @ 113.30 & 113.80 in extension.

Alternative scenario: below 112.20 look for further downside with 111.75 & 111.35 as targets.

Comment: a support base at 112.20 has formed and has allowed for a temporary stabilisation.