EUR/USD retreats below 1.0900

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


The support of the 1.0900 has failed. In the aftermath of the event, the rate is confirming the level as resistance. From a fundamental perspective, the EUR/USD is waiting for the ECB announcement that is set for Thursday afternoon.

In the case of a proper decline, the rate could look for support in the weekly S1 simple pivot point at 1.0891. A failure of the pivot point might result in a decline to the 1.0850 level and the weekly S2 simple pivot point at 1.0847.

On the other hand, a move of the pair above 1.0900 and the 50-hour simple moving average might be slowed down by the 100-hour simple moving average and the upper trend line of the channel down pattern. Higher above, note the 200-hour SMA and the weekly simple pivot point at 1.0944.
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