EUR/USD declines to pivot point

Source: Dukascopy Bank SA


The April high level zone at 1.0920/1.0938 provided resistance to the EUR/USD currency exchange rate. The event was followed with a decline to the weekly simple pivot point at the 1.0832 level. In the meantime, on Friday morning it was spotted that the rate was finding resistance in the 50-hour simple moving average.

If the Euro manages to surge against the US Dollar above the 50-hour simple moving average near 1.0850, the April 20 high level of 1.0865 might act as resistance, before the pair approaches the April high level zone at 1.0920/1.0938.

On the other hand, a decline of the pair below the pivot point at 1.0832 and the 200-hour simple moving average might result in a decline to the 100-hour SMA and the 1.0820 mark. Further below, there is no technical support as low as the April low level zone near 1.0760.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.