EUR/USD drops on start of trading

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


The EUR/USD started the week with a gap down, as fundamentals in Europe and the US have caused a run to safety and a subsequent surge of the US Dollar. By the middle of Monday's trading hours, the pair had retraced from the low at 1.1128 up to the 50-hour simple moving average and the 1.1200 mark.

If the rate surges above the 1.1200 mark, resistance could be met at the weekly simple pivot point at 1.1226 and the 100-hour simple moving average near the 1.1250 level. Higher above, note the resistance line of the February high levels and the 200-hour simple moving average near 1.1300.

On the other hand, a potential decline of the Euro against the US Dollar might look for support in the 1.1150 mark and the February and January low level zone at 1.1106/1.1126. Further below, the 1.1100 mark might act as support, before the rate reaches the weekly S1 simple pivot point at 1.1061.
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Mon, 28 Feb 2022 10:52:00 GMT

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