EUR/USD finds resistance in 1.0600

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Source: Dukascopy Bank SA


During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark.

If the EUR/USD declines below 1.0550, the rate might once again look for support first at 1.0500 and afterwards the 1.0472/1.0492 zone. Further below, take into account the 1.0450 mark and the weekly S1 simple pivot point at 1.0400.

Meanwhile, a move above 1.0600 is highly likely set to encounter resistance in the weekly simple pivot point at 1.0609, before reaching the post Federal Reserve Press Conference high level zone at 1.0626/1.0642.
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