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EUR/USD tests support level

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs35%32%10.0%
Shorts65%68%-5.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate⇗⇗⇗
[ANNOUNCE]

On Tuesday, the EUR/USD currency pair reversed south from the upper line of the medium-term ascending channel. During today's morning, the pair was testing the support level formed by the weekly and monthly PPs, as well the 200-hour SMA near 1.1860.

[/ANNOUNCE]

If the given support holds, it is likely that a reversal north could occur in the nearest future. In this case the exchange rate could face the resistance provided by the 55-hour SMA near 1.1935.

Otherwise, it is likely that some downside potential could continue to prevail in the market, and the rate could re-test the lower channel line located circa 1.7880.

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02 Sep 2020

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