EUR/USD has support at 1.0800

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Source: Dukascopy Bank SA


The EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range.

A move below 1.0800 could result in the pair looking for support in the 1.0750 level and the weekly S1 simple pivot point at 1.0757. Further below, take into account the 1.0700 mark and the weekly S2 at 1.0696.

In the case of a Euro surge against the Dollar, the pair is set to face the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.0822. If these levels fail to hold the pair down, then the 1.0860/1.0890 zone would come into play.
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