EUR/USD respects weekly simple pivot point

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


The surge of the EUR/USD has passed the 1.1100 level. Resistance has been encountered in the weekly R2 simple pivot point at 1.1130.

If the pair declines, support is expected to be found in the 1.1100 mark and the 50-hour simple moving average. Further below, note the weekly R1 simple pivot point at 1.1076. This level has acted as resistance and support. A move further below is expected to look for support in the 1.1040/1.1050 range and the 100-hour simple moving average.

In the case of a resumption of the prior Euro surge against the US Dollar, the rate would have to break the weekly R2 simple pivot point at 1.1130. Higher above, note the resistance of the 1.1200 mark and the weekly R3 simple pivot point at 1.1213.
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