EUR/USD reveals resistance at 1.0910

Source: Dukascopy Bank SA


The EUR/USD bounced off the resistance range at 1.0930/1.0940 and declined below 1.0900 during the US holidays. On Wednesday, the pair was finding resistance in the combination of the 200-hour simple moving average at 1.0910 and the weekly simple pivot point at 1.0907. Meanwhile, some support appears to have been found in the 1.0880 and 1.0870 levels.

An extension of the ongoing decline would have to pass the support of the round levels at 1.0880, 1.0870 and 1.0860, before approaching the support zone at 1.0840 and the weekly S1 simple pivot point at 1.0838.

On the other hand, a breaking of the resistance levels at 1.0910 could result in another test of the resistance of the 1.0930/1.0940 range. Higher above, note the weekly R1 simple pivot point at 1.0979.
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