EUR/USD trades near 1.0850

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Source: Dukascopy Bank SA


Since late Friday's trading hours up to the middle of Tuesday's trading, the EUR/USD has been trading between the support of the zone at 1.0807/1.0822 and the resistance at 1.0924/1.0942. In the meantime, on Tuesday, the pair was finding support in the 1.0850 level.

If in the near term future the Euro surges against the USD, the rate would have to pass the 1.0924/1.0942 zone, the 1.0950 mark and the 100-hour simple moving average. Higher above, the weekly simple pivot point might act as resistance at 1.0995.

On the other hand, a decline of the Euro against the US Dollar might find support in the 1.0850 mark, before looking for support in the 1.0807/1.0822 and 1.0725/1.0780 zones.
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