EUR/USD confirms 1.1100 as support

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Source: Dukascopy Bank SA


The surge of the EUR/USD currency pair continues, as it has reached a new high level. Namely, the pair passed above the 1.1100 mark and confirmed it as support. By mid-Thursday, the rate had touched the 1.1140 level.

The pair is set to face the resistance of the weekly R2 simple pivot point at 1.1149 and the 1.1150 level. A passing of these levels is expected to result in the rate reaching the 1.1200 mark.

However, a decline of the Euro against the US Dollar would look for support in the 1.1100 level and the ascending 50-hour simple moving average. Below these levels, note the 100-hour simple moving average and the 1.1038/1.1045 zone.
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