EUR/USD remains near 0.9700

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


Despite shortly reaching above 0.9750, the EUR/USD still trades near 0.9700. Namely, the pair attempted to surge and encountered resistance in the 100-hour simple moving average. On Wednesday morning, the SMA had approached the 0.9750 level.

A move of the Euro against the USD lower would look for support first in this week's low level zone at 0.9670/0.9680. An extension of a 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.

However, a recovery of the EUR/USD would have to break the 0.9735/0.9750 zone and the 100-hour simple moving average. Higher above, take into account the 0.9800 level and the 200-hour simple moving average.
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