EUR/USD declines below moving averages

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


On Monday morning, the EUR/USD extended its decline, as the pair passed the support of the 100 and 200-hour simple moving averages near 1.0270 and 1.0230. By the middle of the day's European trading hours, the rate was below 1.0200.

A continuation of the decline of the Euro against the US Dollar, the pair might find support in the weekly S1 simple pivot point at 1.0156, prior to approaching the August support levels at 1.0142, 1.0123 and 1.0097.

On the other hand, a recovery of the common European currency against the Greenback could encounter resistance in the 200-hour SMA at 1.0230 and the weekly simple pivot point at 1.0262. Higher above, note the 50 and 100-hour simple moving averages and the zone that surrounds the 1.0280 level.
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Mon, 15 Aug 2022 10:10:35 GMT

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