EUR/USD faces resistance at 1.0600

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Source: Dukascopy Bank SA


The EUR/USD currency pair remains below the 1.0600 mark. Note that there is a resistance zone at 1.0600/1.0607. Meanwhile, technical support is located at 1.0535/1.0542. At that zone, the 50 and 100-hour simple moving averages, the weekly simple pivot point and a support trend line are located at.

A move above 1.0600/1.0607 could encounter resistance in the weekly R1 simple pivot point at 1.0616. Higher above, note the 1.0650 mark and the weekly R2 simple pivot point at 1.0679.

On the other hand, a decline of the Euro against the US Dollar below the 1.0535 level might look for support in the 200-hour simple moving average near 1.0520, before reaching the 1.0500 mark.
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