EUR/USD confirms support and resistance ranges

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


The EUR/USD was finding support in the 1.1000 mark, as the US Retail Sales release caused a major decline. Eventually, the decline of the pair found support in the 1.0935/1.0950 zone. By mid-Friday, the pair had recovered to the 1.1000 mark, but at the time of writing it was observed that the resistance was holding and a decline started.

The decline of the Euro against the US Dollar might be slowed down by the 100-hour simple moving average. Further below, note the mentioned 1.0935/1.0950 zone and the 200-hour simple moving average. If these levels fail, the 1.0900 mark is expected to once again impact the rate.

On the other hand, a strengthening of the Euro, compared to the Dollar, might result in another test of the 1.1100 mark. A move above 1.1000 is set to face resistance in the August high levels near 1.1050.
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