EUR/USD trades above 1.0800

Source: Dukascopy Bank SA


The speech done by Jerome Powell at Jackson Hole caused major volatility of the EUR/USD. the pair traded between the Friday's low level at 1.0766 and the resistance of the 1.0835/1.0845 range. On Monday, the pair traded almost flat between 1.0800 and 1.0820.

A move above 1.0820 could encounter resistance in the combination of the weekly simple pivot point at 1.0829 and the 100-hour simple moving average, before reaching the 1.0835/1.0845 range. Higher above, take into account the 200-hour simple moving average near the 1.0860 level.

A move below the 1.0800 mark's support is expected to aim at the Friday's low level at 1.0766. However, take into account that the 1.0780 level acted as support during early Friday's trading hours. Below 1.0766, the weekly S1 simple pivot point could act as support at 1.0728.
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