EUR/USD remains near 1.0800

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Source: Dukascopy Bank SA


The fourth attempt to pass the resistance zone of 1.0865/1.0875 pierced the range, but eventually retraced back down. From a technical perspective the situation remains unchanged, as the EUR/USD is finding support near 1.0790 and resistance is still at 1.0865/1.0875. Meanwhile, note that the pair has been slightly impacted by the combination of the 50 and 100-hour simple moving averages near 1.0810. By large, the future scenarios remain unchanged.

A decline, could look for support in the combination of the 50 and 100-hour simple moving averages near 1.0810. Further below note the 1.0800 mark, the weekly simple pivot point at 1.0779. In the case of the rate passing these levels, the combination of the 1.0750 level and the 200-hour simple moving average might stop a decline.

On the other hand, a surge of the Euro against the US Dollar would once again face the 1.0865/1.0875 zone. The zone has held since January 12 and has caused already five bounce offs from it.
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