EUR/USD declines below 1.0400

Source: Dukascopy Bank SA


At mid-day on Thursday, the EUR/USD passed below the 1.0400 mark. By 12:00 GMT, the pair was heading lower, as it had no support as low as the weekly S3 simple pivot point at 1.0342 and the 2017 low level at 1.0340.

If the pair finds support in the 1.3040 level and starts a recovery, the 1.0400 mark and the weekly S2 simple pivot point at 1.0405 might become resistance. However, note that these levels did not act as support during the early hours of Thursday's trading.

On the other hand, a move below 1.0340 would result in the pair hitting a new 5-year low level. Support could afterwards be possibly found in the 1.0300 level.
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.