EUR/USD bounces off December high

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


The ECB announced a reduction of monetary stimulus on Thursday, this event boosted the surge of the EUR/USD. However, the rate found resistance at the December high level zone at 1.1355/1.1360. Afterwards, the pair declined and found support in the weekly simple pivot point at 1.1300. The following recovery ended at the 1.1350 mark.

By the start of Friday's US trading session, the rate fluctuated near 1.1330. Meanwhile, the support of the 50-hour simple moving averages was approaching near 1.1305.

In the case that the rate is pushed up by the 50-hour SMA, the EUR/USD might test the resistance of the 1.1355/1.1360 zone. Higher above, note the weekly R1 simple pivot point at 1.1373.

On the other hand, the pair might decline to the weekly simple pivot point at 1.1300. Note that the 1.1300 could soon be strengthened by the 100 and 200-hour simple moving averages.
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