EUR/USD ignores technical levels

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


This week, the EUR/USD currency exchange rate mostly ignored the support and resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. Mainly, the various technical levels manage to hold out for up to five hours, before failing.

At mid-day on Tuesday, the pair was located near the 1.1040 mark. Meanwhile, the mentioned technical levels were all located below the rate, as the pair pierced the resistance of the 100-hour simple moving average.

If the Euro continues to gain value, compared to the US Dollar, the pair might encounter resistance in the Friday and Monday high level zone at 1.1065/1.1073. Higher above, the 1.1100 mark might act as resistance, before the pair reaches the March high level zone near 1.1130.

However, a decline of the pair would have to pass the technical levels in the 1.1007/1.1041 range, before approaching the Monday's low levels at 1.0960/1.0970. Further below, note the weekly S1 simple pivot point at 1.0917.
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