EUR/USD reaches resistance zone

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


The EUR/USD surge has encountered resistance in the high level zone at 1.0910/1.0930. As a result, by the middle of Friday's trading, the pair had retreated down below 1.0900.

A continuation of the decline might look for support in the 50, 100 and 200-hour simple moving averages at 1.0870, 1.0850 and 1.0825. Note that the moving averages could push the pair into another test of the 1.0910/1.0930 range. Below the SMAs, the 1.0800 mark and the weekly simple pivot point at 1.0772 could stop a decline.

On the other hand, a recovery and surge above 1.0910/1.0930 would face no technical resistance. However, the pair might stop at the 1.0950 and 1.1000 levels.
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