EUR/USD breaks above 1.0100

Source: Dukascopy Bank SA


The EUR/USD currency pair has breached the August high level zone at 1.0080/1.0090 and the 1.0100 mark. The surge of the Euro was caused by the European Central Bank hiking interest rates by 0.75% and committing to future hikes.

A continuation of the surge of the pair could encounter resistance in the combination of the weekly R2 simple pivot point at 1.0149 and the 1.0150 mark. Higher above, note the 1.0200 level and the weekly R3 simple pivot point at 1.0218.

However, a decline of the Euro against the US Dollar might look for support in the 1.0100 mark, the 1.0080/1.0090 zone. Further below, take into account the 1.0050 mark and the weekly R1 simple pivot point at 1.0050. Afterwards, support could be found in the 1.0000 mark and the 50, 100 and 200-hour simple moving averages.
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Fri, 09 Sep 2022 08:28:37 GMT

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