EUR/USD decline reaches below 1.0600

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


By the middle of Wednesday's European trading hours, the EUR/USD currency exchange rate had reached below the 1.0600 and approached the weekly S3 simple pivot point at 1.0550.

If the rate passes below the 1.0550 mark, the currency exchange rate would have no close by technical support. Meanwhile, round exchange rate levels could act as support. Namely, the Euro could stop its decline against the US Dollar near 1.0500, 1.0450 and 1.0400.

On the other hand, a potential recovery of the pair would encounter resistance in the weekly S2 simple pivot point at 1.0655. The pivot point acted as resistance during the second half of Tuesday's trading hours.
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