The analytic team of Morgan Stanley has recently reconsidered their short-term forecast for EURUSD. Previously the currency pair was expected to reach 1.27. The latest change suggests that EURUSD will be trading around 1.32 in late March 2012. Despite that, the experts do not deny the possibility of EURUSD falling down to 1.19 instead of 1.15.
The faint growth we can see now will probably be restrained by 1.3340. Levels 1.3280 and 1.3270 are the current major levels of support.
According to the Department of Masterforex-V Trading System , EURUSD continues its short-term retracement within the framework of wave B(C ) against the long-term rally. A break below 1.3186 may intensify the downswing. A break above the 1.3485 high will start forming wave C(C ). The closest level of resistance is 1.3584.
