EUR/USD respects technical zones

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


Despite the Euro being impacted by the ECB rate cut, the rate has continued to respect technical levels. The rate is finding support in the 1.1000 mark and the zone that surrounds it. In the meantime, resistance is found in the 1.1040/1.1060 range.

A move above the 1.1040/1.1060 zone and the 200-hour simple moving average might be slowed down by the weekly simple pivot point at 1.1088, before reaching the 1.1100 mark.

In the meantime, a decline of the Euro against the US Dollar could result in the rate finding support near the 1.1020 level in the form of the 50-hour simple moving averages and the weekly S1 simple pivot point at. Below these levels, the 1.1000 mark is set to provide support, before the rate reaches the lower trend line of the broad channel down pattern.
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