EUR/USD pierces 1.2000 mark - Technical Analysis - Dukascopy Bank

Wed, 05 May 2021 13:10:07 GMT
Source: Dukascopy Bank SA
 


On Wednesday, the EUR/USD currency exchange rate passed the 1.2000 mark's support. It indicates that the rate could extend its decline.

A potential target for the pair's decline would be the weekly S1 simple pivot point at 1.1976. If the pivot point holds and causes a move up, the rate could find resistance in the 55-hour SMA near 1.2030. Afterwards, the combined resistance of the 100 and 200-hour SMAs and the weekly simple pivot point could provide resistance in the 1.2030/1.2070 range.

On the other hand, a passing of the support of the weekly S1 would most likely result in a test of the April 19 low level and the 1.1940 mark.

Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.