FX.co ★ EUR/USD analysis for March 19 2021 - Absorption of the massive buying cliamax and potential for downside movement towards 1.1840

BofA revises up 10-year Treasury yields forecast for this year to 2.15% from 1.75%

Adding to that, the firm is also revising higher its 10-year German bund yields target to -0.25% from -0.40% previously.

This just adds to the slew of higher forecasts for bond yields since the turn of the year as the reflation focus stands out as being the major theme in the market so far.

Further Development

Analyzing the current trading chart of EUR/USD, I found there is absorption of the massive buying climax from FOMC day, which is sign of strong selling pressure.

Key Levels:

Resistance: 1,1910

Support levels: 1,1885 and 1,1840.