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15.03.202114:24 Forex Analysis & Reviews: EUR/USD analysis for March 15 2021 - Consolidation phase with potential for the downside breakout and test of 1.1870

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BOE's Bailey: We will need to see evidence that the trend in inflation is sustainable

Impact of lockdown is less than it was a year ago

We now have a more balanced picture of risks
Economy expected to return to pre-pandemic size around the end of the year
Build-up of savings is an upside risk
I would expect pickup in inflation towards 2% in the next few months
We do not see inflation rising towards 4% or 5%
We are not out of tools for policy options
We could introduce new monetary policy tools
We are asking banks to get ready for negative rates
But there is no view on whether we will use them or not
Rise in rates in the market is consistent with change in economic outlook

Further Development

Analyzing the current trading chart of EUR/USD, I found that there is the consolidation phase in last 6 hours and you should watch for the breakout to confirm further direction.

Key Levels:

Resistance: 1,1942

Support level: 1,1910 and 1,1870

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