EUR/USD reaches below 0.9700

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


On Monday morning, the decline of the EUR/USD, which was caused by the better than expected US employment data, continued. By 08:30 GMT, the currency pair had reached below the 0.9700 mark. The round level did not act as support.

An extension of the ongoing decline of the currency pair could look for support in the 0.9650 level and the weekly S1 simple pivot point at 0.9643. Further below, take into account the 0.9600 level that might stop a decline, before the September low level zone and the weekly S2 simple pivot point at 0.9549 could keep the EUR/USD up.

On the other hand, a recovery of the rate is expected to encounter resistance in the 0.9750 level and the zone below it. Higher above, note the 50 and 200-hour simple moving averages near 0.9800 and the weekly simple pivot point at 0.9821.
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