EUR/USD remains below 1.1400

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Source: Dukascopy Bank SA


The resistance of the 1.1400 mark, the weekly simple pivot point and the 200-hour simple moving average held on Wednesday. On Thursday, the EUR/USD currency exchange rate retreated and shortly traded below the 1.1350 mark. By the start of the day's US trading hours, the pair fluctuated between the 1.1350 and 1.1380 levels.

A decline below the 1.1350 mark and the 100-hour simple moving average, which is located at that level, could result in a decline to the 1.1300 mark and the weekly S1 simple pivot point. However, take into account that the 1.1300 level was passed on Monday, and the 1.1280 level acted as support.

On the other hand, a move above 1.1380 would face the 200-hour simple moving average near 1.1385, the weekly simple pivot point at 1.1397 and the 1.1400 mark. If the pair reached above the 1.1400 mark, the Euro would face no resistance against the US Dollar as high as the weekly R1 simple pivot point at 1.1463. Above the pivot point, note the resistance zone of the February high levels at 1.1472/1.1495.
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Thu, 17 Feb 2022 14:19:25 GMT

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