EUR/USD trades near low levels

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Source: Dukascopy Bank SA


At mid-day on Wednesday, the EUR/USD remained near the 0.9880 level and the weekly S1 simple pivot point at 0.9881.

In the case of the Euro resuming its decline against the US Dollar, the pair could look for support in the weekly S2 simple pivot point at 0.9812. Further below, the 0.9800 mark might act as support.

On the other hand, a recovery of the currency pair is expected to encounter resistance in the 50 and 100-hour simple moving averages near 0.9920 and 0.9935. Higher above, take into account the 200-hour SMA at 0.9970 and the weekly simple pivot point at 0.9980.
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