EUR/USD recovers to 1.2100

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The support of the 1.2000 mark was enough for the EUR/USD to start a surge, which managed to pass the resistance of the 55-hour simple moving average and reach the 1.2100 mark. In the meantime, the 1.2100 level was strengthened by the 100-hour simple moving average.

In the near term future, the rate was expected to test the resistance of the 1.2100 mark and the 100-hour simple moving average. If these levels fail to provide resistance, the pair could test the weekly pivot point at 1.2127 and the 200-hour simple moving average near 1.2125.

In the case of the 1.2100 mark holding, a decline would occur. Namely, the EUR/USD would test the support of the 55-hour simple moving average. If the SMA fails, the pair could once again test the support levels that were located from 1.2000 to 1.2020
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Wed, 03 Mar 2021 09:11:27 GMT

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