EUR/USD trades around 0.9800

Source: Dukascopy Bank SA


Since Friday, the EUR/USD has been trading in the 0.9750/0.9850 range. In the meantime, the hourly simple moving averages, which had reached the rate, failed to impact it. In general, Friday's forecasts remain unchanged.

A surge of the pair would have to break the 0.9850 level, before testing the 0.9865/0.9875 zone, the 0.9900 level and the weekly R1 simple pivot point at 0.9937.

A decline of the Euro against the US Dollar might find support in the 0.9750 level . Further below, note that the 0.9700 and 0.9650 levels and the 100-hour simple moving average might act as support, before September low levels would be reached.
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