Euro to dollar chart year: Euro Weekly Price Outlook: EUR/USD Rejected at Yearly Open Resistance

Notes: In last month’s EUR/USD Weekly Technical Outlook we noted that price was challenging key support at the 1.13 handle with a weekly close below, “ needed to keep the immediate short-bias viable targeting 1.1223 and the 61.8% retracement of the 2017 advance at 1.1187 .” Euro registered a low at 1.1176 on March 7 th (ECB day) before rebounding sharply with the advance stalling at yearly open resistance at 1.1445 on the back of yesterday’s FOMC interest rate decision. Note that a pair of trendlines extending off last year’s March & September highs also converges on this region and further highlights the technical significant of this resistance zone.

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