EUR/USD passes below support zone

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


On Monday morning, the EUR/USD passed below the support zone at 1.0960/1.0970. However, after the event, a sudden surge occurred, as the rate returned to the resistance of the 1.1000 mark. By 14:00 GMT, the rate had bounced off 1.1000 and declined to the levels below 1.0950.

If the Euro continues to decline against the US Dollar, the pair might find support in the weekly S1 simple pivot point at 1.0939, before approaching the March low levels at 1.0902/1.0905 and the 1.0900 mark.

On the other hand, a surge of the currency exchange rate might encounter resistance in the 50-hour simple moving average at 1.0990, before approaching the 1.1000 mark. Note that the 1.1000 level is being strengthened by the 100-hour simple moving average and the weekly simple pivot point. Higher above, note the 200-hour simple moving average near 1.1020.
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Mon, 28 Mar 2022 14:29:38 GMT

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