EUR/USD ignores moving averages

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


Since Tuesday, the EUR/USD has continued to respect the support of the weekly simple pivot point at 1.0664 and the 1.0660 mark. Meanwhile, it has been observed that the 50 and 100-hour simple moving averages fail to impact the pair.

A recovery of the currency pair is expected to face resistance in the 1.0720 level that appears to have turned into resistance at mid-Wednesday. Higher above, note the 1.0745/1.0755 range.

Meanwhile, a decline of the pair is set to look for support in the weekly simple pivot point at 1.0664 and the 1.0660 mark. In addition, the rate is being approached by the 200-hour simple moving average. Below these levels note the 1.0600 mark and the support and resistance zone that surrounds it.
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