EUR/USD approaches 0.9900

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Source: Dukascopy Bank SA


The EUR/USD broke the resistance zone at 0.9865/0.9875 on Tuesday morning.

In general, the pair was expected to test the 0.9900 level, weekly R1 simple pivot point at 0.9925 and the 0.9950 level, before reaching parity. Note that the 0.9950 level kept the pair from declining from September 13 up to September 21.

On the other hand, a decline of the Euro against the US Dollar is set to look for support in the 0.9865/0.9875 range, the 0.9850 level and the combination of the 50-hour simple moving average and the 0.9800 mark.
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