EUR/USD retreats below 1.0800

Source: Dukascopy Bank SA


The EUR/USD has bounced off the resistance zone at 1.0825/1.0830 and declined below 1.0800 level. Moreover, the pair has passed the support of the 55-hour simple moving average.

An extension of the ongoing decline might result in the pair once again looking for support in the 1.0760 level. Further below, the weekly S1 could act as support at 1.0740, before the rate reaches 1.0700.

On the other hand, a potential surge would have to break the 1.0825/1.0830 resistance zone. Higher above, the 200-hour SMA might act as resistance.
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