EUR/USD is highly volatile

Source: Dukascopy Bank SA


The EUR/USD currency pair has been highly volatile, as it has been reacting to major US fundamental events throughout the week. Namely, the Fed rate hike and monetary policy announcement together with the US GDP have been creating major moves. In general, the pair has been observed to be fluctuating between the support of the 1.0097/1.0115 zone and resistance at 1.0255/1.0258.

At mid-day on Friday, the pair was located in the middle of the range near the 1.0200 mark. A potential decline would look for support in the 1.0097/1.0115 zone, before approaching parity and the weekly S2 simple pivot point at 0.9990.

On the other hand, a recovery of the Euro against the US Dollar would have to pass the 1.0255/1.0258 zone, before approaching the weekly R1 simple pivot point and the 1.0300 mark.
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