EUR/USD finds resistance at 1.2070

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


Since the middle of Thursday's trading session, the EUR/USD has been trading below the resistance of the 1.2070 level. In the meantime, the rate almost fully ignored the resistance of the 200-hour simple moving average and the weekly simple pivot point near 1.2060.

In the near term future, the rate could bounce off the 1.2070 level and decline to the combined support of the 55 and 100-hour simple moving average near 1.2030. If these levels would be passed, the pair could reach for the support of the 1.2000 mark.

On the other hand, a potential surge above the 1.2070 mark would aim at the 1.2100 mark and afterwards the weekly R1 simple pivot point at 1.2109.
Back to articles

Actual Topics

Fri, 07 May 2021 07:07:34 GMT

USD/CAD awaits US employment data

Downside risks pressured the US Dollar against the Canadian Dollar on Thursday. The currency pair breached the support level at 1.2250 during Thursday's trading session.

Fri, 07 May 2021 06:38:26 GMT

GBP/JPY breakout could occur

The Pound Sterling fell by 69 pips or 0.45% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.

Subscribe to "Fundamental Analysis" feed

Souscrire
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.