EUR/USD trades above December high

Source: Dukascopy Bank SA


From a technical perspective the support of the 1.0500 has held and caused a surge. However, the recent surge has been attributed to the US employment data release on Friday at 13:30 GMT, which caused a broad USD decline. By the start of this week, the pair had reached and was testing the resistance of the 1.0750 level.

In the case of the 1.0750 mark holding, the currency pair might look for support in the 1.0700 level and the 50-hour simple moving average. Further below, take into account the combination of the 100 and 200-hour SMAs near 1.0630.

On the other hand, a move above 1.0750 could be slowed down by the 1.0800 mark and the weekly R2 simple pivot point at 1.0837.
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Tue, 10 Jan 2023 14:05:06 GMT

GBP/USD finds resistance at 1.2200

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