EUR/USD reaches back above 1.0200

Source: Dukascopy Bank SA


During the second part of Thursday's trading, the EUR/USD currency pair managed to reach above the resistance of the 1.0200 mark and the weekly simple pivot point at 1.0193, and the 200-hour simple moving average. Moreover, the 100-hour SMA failed to act as resistance near 1.0210. On Friday morning, the EUR/USD traded near the 1.0240 level and appeared to be consolidating in the aftermath of the previous surge.

An appreciation of the Euro against the US Dollar might encounter resistance in the weekly R1 simple pivot point at 1.0290 and the 1.0300 mark. Higher above, take into account the 1.0350 level and the weekly R2 simple pivot point at 1.0354.

In the case of a decline of the currency pair, the rate might look for support in the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the 1.0200 mark, which are all spread out in the 1.0193/1.0210 range. Below this range, the 1.0160 level could slow down a decline, prior to the rate reaching the Wednesday's low at 1.0125.
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.