EUR/USD ignores technical levels

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


The EUR/USD was testing the resistance of the weekly simple pivot point at 1.1345, as the US Fed Meeting Minutes were released. A strengthening of the USD followed, which beat down the EUR/USD. The decline eventually stopped at the 1.1285 level, on Thursday morning. However, since then the rate has been looking for direction, as it ignores technical levels and fluctuates in the 1.1290/1.1330 range.

In the case of a decline, the EUR/USD might look for support in the December 29 and January 4 low levels at 1.1275. Further below, December 21 and 22 low levels could stop a decline at 1.1260/1.1265.

On the other hand, a recovery of the pair would face the resistance of the weekly simple pivot point at 1.1345, before testing the December high level zone at 1.1381/1.1386.
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