EUR/USD recovers on Tuesday

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


At midnight to Tuesday, the EUR/USD currency exchange rate broke the channel down pattern, which guided the rate since the US CPI release on Thursday. By the middle of Tuesday's European trading hours, the currency exchange rate had reached above the 50-hour simple moving average at the 1.1340 mark. In the meantime, the pair was finding resistance in the 1.1350 level.

A move above the 1.1350 mark could reach first for the resistance of the 100-hour simple moving average near 1.1380. Higher above, the weekly simple pivot point might act as resistance at 1.1392, before reaching the 1.1400 mark and the 200-hour simple moving average.

On the other hand, a decline would have to pass the 50-hour simple moving average near 1.1335. Afterwards, support might be found in the 1.1300 mark and the weekly S1 simple pivot point at 1.1289.
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