EUR/USD reveals support

Source: Dukascopy Bank SA


The EUR/USD has found support in the 1.0223/1.0226 range. This range provided enough support for the pair to reach above 1.0250. On Tuesday morning, the currency exchange rate was heading to the 50 and 200-hour simple moving averages near 1.0290/1.0300.

A move by the pair above 1.0300 could encounter resistance in the 100-hour simple moving average near 1.0330. Higher above, note the 1.0350 level and the weekly simple pivot point at 1.0359.

Meanwhile, a potential resumption of the decline would look for support in the 1.0223/1.0226 levels, before reaching the 1.0200 mark and the weekly S2 simple pivot point at 1.0149.
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