EUR/USD trades around 1.0200

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Source: Dukascopy Bank SA


Throughout Friday, the EUR/USD fluctuated between the 1.0150 and 1.2050 levels, despite shortly piercing them. On Monday morning, the pair was trading near the 1.0200 level. In the meantime, it was spotted that the rate was not being impacted by the weekly simple pivot point at 1.0190 and the 50 and 100-hour simple moving averages.

If the pair declines in the near term future, it would most likely once again look for support in the 1.0150 level. In addition, note the 200-hour simple moving average near 1.0140. Further below, the 1.0100 mark and the weekly S1 simple pivot point are expected to act as support.

On the other hand, a resumption of the Euro recovery against the US Dollar would have to pass the 1.0250 level, before testing the resistance of the 1.0270/1.0280 zone.
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