EUR/USD reaches 0.9900

Source: Dukascopy Bank SA


The decline of the EURUSD pair has clearly passed below the 0.9950 mark. On Tuesday morning, the EUR/USD was trading between the support of the 0.9900 mark and the 0.9950 level as resistance.

A move below the 0.9900 mark is expected to look for support in the weekly S2 simple pivot point at 0.9874. Further below, note the 0.9850 and 0.9800 levels.

On the other hand, a recovery of the Euro against the US Dollar is set to encounter resistance in the 0.9950 mark and the weekly S1 simple pivot point at 0.9954. Higher above, the 1.0000 mark and the 50-hour simple moving average.
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