EUR/USD (a daily chart of which is shown) as of Monday (3/28/2011) has begun the week by continuing last week’s bearish correction and dropping down to approach the key 1.4000 psychological support by just 20 pips before making a pronounced bounce. This bounce also occurred right around a key uptrend support line extending back to the early January low. For more EUR/USD forex technical analysis, please click here.
James Chen, CTA, CMT