EUR/USD tests 1.0900

Source: Dukascopy Bank SA


The EUR/USD has managed to pass the resistance of the 50-hour simple moving average. However, on Tuesday morning, the resistance of the 1.0900 mark was still holding.

Above the 1.0900 mark, note the weekly simple pivot point at 1.0916 and the 100-hour simple moving average. In the case of these levels being broken, the rate could aim at the 200-hour SMA near 1.0960 and the weekly R1 at 1.0985.

Meanwhile, a decline of the Euro against the US Dollar could find support in the 50-hour SMA near 1.0870, before approaching the support range at 1.0845/1.0850.
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