EUR/USD trades around 1.0700

Source: Dukascopy Bank SA


Since the last failed attempt at passing the 1.0740/1.0760 zone, the EUR/USD has been trading around the 1.0700 mark. Namely, the pair has declined and found support at 1.0660, before retracing back up to the 1.0740 level. At mid-day on Wednesday, the currency pair was trading between the resistance of the 1.0740 level and the support of the technical levels at 1.0710/1.0720.

If the Euro surges against the US Dollar, the pair would have to pass the 1.0740/1.0760 zone, before approaching the weekly R1 simple pivot point at 1.0793 and the 1.0800 mark.

On the other hand, a decline of the rate below 1.0660 is expected to find support in the low level zone at 1.0625/1.0640.
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