EUR/USD recovers on Monday

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


During Monday's early trading hours, the EUR/USD found support in the 1.1875/1.1885 zone and began a recovery. By the middle of the day's GMT trading hours, the pair had reached above a technical resistance cluster at 1.1910/1.1930.

Next up, the rate faced a resistance zone that was located at 1.1935/1.1940. If this resistance cluster holds, the pair could look for support in the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point at 1.1910/1.1930. If the technical levels don't provide support, the EUR/USD could aim at 1.1875/1.1885.

On the other hand, if the 1.1935/1.1940 zone does not provide resistance, the pair could reach for the weekly R1 simple pivot point at 1.1971.
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