XE Market Analysis: Europe – Mar 31, 2015

EUR-USD fell to nine-day lows under 1.0780, bringing the Mar-22 low at 1.0767 into scope. The move broke below the 20-day moving average, which is presently sitting at 1.0796 and now reverts as resistance, ahead of 1.0845. The fresh decline reflects broader dollar gains that were sparked by Fed’s Fischer, who said U.S. GDP data may be understating the economy’s health. USD-JPY rallied to a new high for a second day, making an 11-day peak of 120.36. The move came to a pause just shy of the 20-day moving average at 120.40.

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