EUR/USD is pushed down by SMA

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


Since Monday, the EUR/USD has been testing the support of the 1.1585/1.1595 zone. In the meantime, it was spotted that on Tuesday and Wednesday the currency exchange rate failed to recover due to the resistance of the 55-hour simple moving averages.

If the 55-hour simple moving average continues to push the pair down, it could pass the support of the 1.1585/1.1595 zone. A potential decline might look for support in the weekly S2 simple pivot point at 1.1532. However, note that the 1.1550 mark might slow down a drop of the EUR/USD.

Meanwhile, a recovery and breaking of the resistance of the 55-hour SMA would encounter resistance in the 1.1615/1.1625 zone and the 100 and 200-hour simple moving averages, which have moved into the zone.
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