EUR/USD is reached by 200-hour SMA

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Source: Dukascopy Bank SA


The EUR/USD started the week's trading by finding support in the 1.1920 level and reaching the resistance of the 200-hour simple moving average, which had recently approached the rate from above.

In the case that the rate passes the resistance of the 200-hour simple moving average near 1.1940, the pair would most likely extend the surge. An extension of the surge would most likely test the last week's high levels in the 1.1970/1.1975 zone. If the resistance zone would be passed, the rate could find resistance in the weekly simple pivot point at 1.1994 and the 1.2000 mark.

On the other hand, a potential decline would have to pass the support of the 1.1920 level. Afterwards, the rate could aim at the support of the 1.1900 mark.
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Mon, 28 Jun 2021 08:18:02 GMT

GBP/USD reveals pattern

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