EUR/USD passes support levels

Source: Dukascopy Bank SA


The EUR/USD has passed below the 1.0700 mark, which previously acted as support. In general, the pair has reached levels not seen since March, as the US Dollar continues to gain value.

An extension of the ongoing decline might be slowed down by round exchange rate levels, as it has been spotted that round levels manage to impact the rate. In the meantime, note that weekly simple pivot points have also shown to be capable to impact the pair.

On the other hand, a potential recovery of the Euro against the US Dollar could face resistance in the 1.0700 mark and the declining hourly simple moving averages.
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Wed, 31 May 2023 10:32:37 GMT

GBP/USD remains below 1.2400

Despite a recent short lived surge, the GBP/USD continues to trade below the 1.2400 mark. Meanwhile, it was spotted that the pair mostly ignores the hourly simple moving averages. An extension of the ongoing decline might look for support near the 1.2300 mark or one of the weekly simple pivot points. The rate has found support and resistance not exactly in

Mon, 29 May 2023 12:34:34 GMT

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