EUR/USD bounces off 0.9900

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Source: Dukascopy Bank SA


On Monday morning, the EUR/USD confirmed that the 0.9900 level can act as resistance, as the pair bounced off it.

An extended decline of the Euro against the US Dollar might find support in the weekly simple pivot point at 0.9814, the 50 and 100-hour simple moving averages and the 0.9800 mark. Further below, take into account the 200-hour simple moving average near 0.9880 and the weekly S1 simple moving average at 0.9752 together with the 0.9750 level.

On the other hand, a recovery of the pair would have to pass above the 0.9900, before testing the resistance of the weekly R1 at 0.9923.
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