EUR/USD declines below 0.9750

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


On Friday morning, the EUR/USD bounced off the 0.9800 mark and declined below the support of the 200-hour simple moving average near 0.9765. By the middle of the day, the rate was approaching the support of the weekly simple pivot point at 0.9719 and the 0.9708/0.9715 zone.

A decline below the weekly simple pivot point and the 0.9708 level could immediately look for support in the 0.9700 mark. Further below, note the weekly S1 simple pivot point at 0.9630.

On the other hand, a recovery of the Euro against the US Dollar would face resistance in the 200-hour simple moving average near 0.9765, the 50-hour SMA near 0.9780 and the cluster of technical levels near 0.9800.
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