EUR/USD tests resistance zone

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Source: Dukascopy Bank SA


On Tuesday, the EUR/USD reached the zone at 1.1835/1.1845 that slowed down the rate's surge in late March and managed to reverse the early March decline. In addition, this zone was being strengthened by the weekly R1 simple pivot point at 1.1848.

In the case of the resistance levels holding, the pair would most likely decline to the 1.1820 level, which managed to slow down the rate since late Monday's trading hours. Below that, the weekly R1 simple pivot point at 1.1806 and the 1.1800 mark could provide support.

On the other hand, a potential decline would aim at the resistance zone that surrounds the 1.1880 level. Afterwards, the 1.1900 mark could be reached.
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