EUR/USD returns back above 1.1000

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Source: Dukascopy Bank SA


The recovery of the Euro against the USD from the 1.0900 mark has reached a new high, as on Tuesday the pair reached above the 1.1000 mark. During the recovery, the pair passed the resistance of the weekly simple pivot point at 1.0947 and the 50, 100 and 200-hour simple moving averages in the 1.0950/1.0990 zone.

If the Euro continues to gain value in the near term future, the pair could approach the 1.1088 mark, where the weekly R1 simple pivot point is located at. Higher above, note the 1.1100 mark and the zone above it.

On the other hand, a potential decline of the pair might find support in the 1.0947/1.0990 zone, where the weekly simple pivot point and the three hourly simple moving averages are located at. Further below, the 1.0900 mark could once again act as support.
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Tue, 15 Mar 2022 13:53:23 GMT

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