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The EUR/USD appears to be waiting for this week's US Consumer Price Index release by fluctuating near the 1.1000 mark. Note that the rate has been ignoring the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point.
A decline might look for support in the 1.0935/1.0950 range, before reaching the weekly S1 simple pivot point at 1.0928. Further below, note the 1.0900 mark, the weekly S2 simple pivot point at 1.0853 and the 1.0850 level.
On the other hand, a recovery of the Euro against the US Dollar would face the 1.1000 mark, prior to testing the 1.1030/1.1045 range.
Tue, 08 Aug 2023 10:27:31 GMT
Source: Dukascopy Bank SA
The EUR/USD appears to be waiting for this week's US Consumer Price Index release by fluctuating near the 1.1000 mark. Note that the rate has been ignoring the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point.
A decline might look for support in the 1.0935/1.0950 range, before reaching the weekly S1 simple pivot point at 1.0928. Further below, note the 1.0900 mark, the weekly S2 simple pivot point at 1.0853 and the 1.0850 level.
On the other hand, a recovery of the Euro against the US Dollar would face the 1.1000 mark, prior to testing the 1.1030/1.1045 range.