EUR/USD approaches resistance

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since February 21, EUR/USD pair continues to find support in the range near 1.0800. Meanwhile, resistance is provided by the 1.0860/1.0890 range. On Monday, the pair approached the resistance range.

If the pair once again bounces off the 1.0860/1.0890 range, support could be found in the combination of the 50, 100 and 200-hour simple moving averages near the weekly simple pivot point at 1.0833. Below these levels, note the 1.0800 mark and the weekly S1 simple pivot point at that level.

On the other hand, a potential breaking of the 1.0860/1.0890 range and the weekly R1 simple pivot point is expected to approach the combined resistance of the weekly R2 simple pivot point at 1.0903 and the 1.0900 level.
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Mon, 04 Mar 2024 12:45:26 GMT

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