EUR/USD reaches March high level

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Source: Dukascopy Bank SA


Due to ongoing talks between Russia and Ukraine, risk on sentiment caused large moves on Tuesday. On the EUR/USD charts the event resulted in a sharp surge to the March high level zone at 1.1130/1.1138.

If the pair bounces off the high level zone, the rate might look for support in the 1.1100 mark, before approaching the weekly R1 simple pivot point at 1.1048 and the 1.1050 mark. Further below, note the major cluster of technical levels at 1.0990/1.1020.

On the other hand, a surge above the March high level could encounter resistance at 1.1150 and the weekly R3 simple pivot point at 1.1157. Higher above, note the 1.1200 and 1.1250 levels.
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