EUR/USD remains near previous levels

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


At mid-day on Friday, the EUR/USD shortly pierced the support zone at 1.0382/1.0385. However, a recovery followed the event. By the middle of Monday's trading, the pair had recovered to the 1.0450 level.

If the Euro continues to surge against the US Dollar, the pair might encounter resistance in the weekly simple pivot point at 1.0469 and the 100-hour simple moving average. A move above these levels might test the 1.0485/1.0488 zone, before approaching the 1.0500 mark and the 200-hour simple moving average.

Meanwhile, a decline of the pair could look for support in the 50-hour simple moving average near 1.0420. Further below, note the 1.0400 mark and the previously pierced support zone at 1.0382/1.0385.
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