EUR/USD: TECHNICAL ANALYSIS 16.03.20 Current trend EUR/USD quotes attempted to grow, but reaching 1.11928 marks moved to a decline. Pair’s sustained trading below 1.11084 will let the price re-test the 1.10842-1.10474 support area. The breakdown of the lower border will trigger a pair's active decline to the new lows surrounding 1.09863. Alternative scenario The upward rebound from 1.11084 and pullback above the level of 1.11694 will let the price grow to the area of 1.11928. The decisive breakout of this level is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 1.12305 resistance, which seems a key “bullish” mark for the short-term period. There is a high chance of a downward rebound, while its breakout would allow the growth to continue to the area of 1.12600. Technical indicators Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are pointed downwards. MACD is growing in the negative zone. Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation. Support and resistance Support levels: 1.11084, 1.10842, 1.10474, 1.09863. Resistance levels: 1.11694, 1.11928, 1.12305, 1.12600. Trading recommendations Short positions can be opened below the level of 1.10474 with the target at around 1.10000 and stop-loss at 1.10632. Long positions can be opened above the level of 1.11928 with the target at around 1.12305 and stop-loss at 1.11803.