EUR/USD remains below 1.0800

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


Throughout the past week, the situation has not changed. The EUR/USD remains close by the 1.0800 mark. However, the rate did dip below the 1.0740/1.0750 range, before returning to previous levels. On Monday, the pair was being supported by the 50-hour simple average that was pushing the rate into the 1.0800 mark which was supported by the weekly R1 simple pivot point at 1.0799.

The Euro's surge against the US Dollar is bound to face the 1.0800 mark and the weekly simple pivot points that are spread out up until the 1.0900 mark. If the surge progresses, the 1.0900 mark would eventually also act as resistance. Meanwhile, note the early April high level range at 1.0875/1.0885, which stopped an attempted surge. In addition, the 1.0850 level has shown to be capable of acting as support and resistance.

Meanwhile, a decline is expected to look for support in the 50-hour simple moving averages and the combination of the weekly simple pivot point and the 100-hour simple moving average near 1.0060. A decline further below 1.0740 is set to look for support in the ascending 50, 100 and 200-hour simple moving averages, prior to the pair reaching the 1.0675/1.0700 range that has acted as support and resistance. Further below, note the 1.0650 level that provided support at the start of the month. Further below, the 1.0600 level and the low level zone just above it will impact the EUR/USD.
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