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On Wednesday, the EUR/USD dipped to the support of the weekly S1 simple pivot point at 1.0128, which together with the 1.0125 level appears to have caused a recovery. By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193 and the 200-hour simple moving average.
A move above 1.0200 could encounter resistance in the 100-hour simple moving average near 1.0205. Higher above, the 1.0220, 1.0240 and 1.0260 levels might slow down a potential surge, prior to the rate reaching the 1.0300 mark.
On the other hand, a decline of the pair is expected to find support in the 1.0160 level, before reaching the weekly S1 simple pivot point at 1.0128 and the 1.0125 level.
Thu, 04 Aug 2022 12:59:14 GMT
Source: Dukascopy Bank SA
On Wednesday, the EUR/USD dipped to the support of the weekly S1 simple pivot point at 1.0128, which together with the 1.0125 level appears to have caused a recovery. By the middle of Thursday's European trading hours, the pair had recovered and was once again testing the resistance of the 1.0200 level, the weekly simple pivot point at 1.0193 and the 200-hour simple moving average.
A move above 1.0200 could encounter resistance in the 100-hour simple moving average near 1.0205. Higher above, the 1.0220, 1.0240 and 1.0260 levels might slow down a potential surge, prior to the rate reaching the 1.0300 mark.
On the other hand, a decline of the pair is expected to find support in the 1.0160 level, before reaching the weekly S1 simple pivot point at 1.0128 and the 1.0125 level.