EUR/USD Technical Analysis for March 20, 2025
As of 10:00 AM GMT on March 20, 2025, the EUR/USD currency pair is trading at approximately 1.0845.
Current Price Levels and Technical Indicators:
As of 10:00 AM GMT on March 20, 2025, the EUR/USD currency pair is trading at approximately 1.0845.
Relative Strength Index (RSI): The RSI is currently positioned near 50, indicating neutral momentum without immediate overbought or oversold conditions.
Moving Averages:
- 200-period Simple Moving Average (SMA): The pair is trading above the 200 SMA on the hourly chart, suggesting a potential bullish trend.
Support and Resistance Levels:
- Immediate Support: The nearest support is identified at 1.0825-30.
- Immediate Resistance: The pair faces resistance at 1.0950-55, with a significant psychological barrier at 1.1000.
Fundamental Factors:
Federal Reserve Policies: The Federal Reserve has concluded its meeting, highlighting economic risks and adjusting forecasts. The GDP growth forecast for 2025 has been lowered from 2.5% to 1.7%, the inflation forecast has been raised from 2.5% to 2.8%, and the unemployment forecast has increased to 4.4%.
Geopolitical Developments: Scheduled discussions between U.S. and Russian leaders may impact market sentiment, particularly concerning the Russia-Ukraine situation.
Conclusion:
The EUR/USD pair exhibits a cautiously bullish stance, trading above key moving averages with neutral RSI readings. Traders should monitor the 1.0950-55 resistance and 1.0825-30 support levels closely. Upcoming central bank announcements and geopolitical events are likely to introduce volatility, necessitating attentive risk management.
GBP/USD Technical Analysis March 20, 2025
USD/JPY Technical Analysis March 20, 2025
USD/CAD Technical Analysis March 20, 2025