_20160331053732.png "EURUSD")
The greenback continued its losing streak against majority of its peers on Wednesday as the dovish comments from Fed's Yellen pushed out expectations of Fed rate hike. EUR/USD rose to a high of 1.1367 before ending the day around 1.1337 levels. Greenback is having a good time today, with the pair now trading around 1.1316 levels.
Technicals – strong support at 1.1293
Euro’s rise above post Fed high of 1.1342 in the NY session yesterday indicates its only a matter of time before the bird challenges offers around 1.1376 levels, although further rally would need a daily close above the same, in which case it would be indication that a recovery from December low of 1.0517 has resumed.
Bullish tone is likely to remain intact so long as the bulls are able to defend critical support at 1.1293 (23.6% of May 2014 high-Mar 2015 low).
A break lower would expose support at 1.1257 and indicate a temporary top is in place at 1.1367 levels.
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