EUR/USD continues to surge

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Source: Dukascopy Bank SA


As expected, the EUR/USD surge quickly reached the weekly R2 simple pivot point and the 1.1450 mark. By the middle of Thursday's trading, the rate had found resistance in the 1.1480 mark.

A continuation of the surge would have to pass the 1.1480 level, before aiming at the resistance of the weekly R3 simple pivot point at 1.1512. However, take into account that the 1.1500 mark might act as resistance.

On the other hand, the EUR/USD could consolidate its gains by declining. A potential decline might find support in the weekly R2 simple pivot point at 1.1446 and the 1.1450 mark. If the rate moves below these levels, the weekly R1 and the 50-hour simple moving averages might stop the pair near 1.1400.
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Thu, 13 Jan 2022 14:31:59 GMT

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