EUR/USD trades around 1.1000

Source: Dukascopy Bank SA


The EUR/USD appears to be waiting for the Wednesday's Federal Reserve interest rate hike. Meanwhile, from a technical analysis perspective, the pair has revealed a resistance zone near 1.1100 and support near 1.0965.

On Monday, the pair was located near the 1.1000 mark. A potential decline of the Euro against the US Dollar might look for support at 1.0965. Near that level note the recent low level zone and the weekly S1 simple pivot point. Further below, the 1.0900 mark and the weekly S2 could act as support.

On the other hand, a recovery of the pair would have to pass above the combined resistance at 50 and 100-hour simple moving averages at 1.1020 and the weekly simple pivot point at 1.1029. Higher above, note the 1.1085/1.1095 range and the weekly R1 simple pivot point at 1.1094.
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