EUR/USD remains near 1.0740

Source: Dukascopy Bank SA


The bounce off from the resistance zone at 1.0740/1.0760 found support in the 50-hour simple moving average close above the 1.0700 level. During the first half of Monday's trading, the rate continued to fluctuate in the 1.0710/1.0750 range. In general, previous forecasts remain intact.

If the Euro recovers against the US Dollar, the pair would have to pass the 1.0740/1.0760 zone, before reaching the 1.0800 mark and the weekly R1 simple pivot point at 1.0813.

On the other hand, a decline of the pair is expected to look for support in the 1.07000 mark and the 50-hour simple moving average, before reaching the weekly simple pivot point at 1.0684.
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