EUR/USD decline reaches 1.1050

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Source: Dukascopy Bank SA


The EUR/USD has approached the support levels that are spread out from the 1.1040 level up to 1.1050.

Below the 1.1050 level, the 200-hour simple moving average at 1.1035 could act as support, before the EUR/USD reaches the 1.1000 mark and the weekly simple pivot point at 1.1004.

On the other hand, if the Euro recovers and EUR/USD would face the 100-hour simple moving average at 1.1080. An appreciation further of the Euro's value against the US Dollar would face resistance at the 1.1100 mark, the weekly R2 simple pivot point at 1.1114, the 50-hour simple moving average near 1.1110 and the weekly R3 simple pivot point at 1.1157.
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