EUR/USD tests resistance zone

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


On Thursday, the EUR/USD approached the 1.0920/1.0925 zone, which once again acted as resistance. The following decline reached the 50-hour simple moving average and the 1.0900 mark.

A move below the 50-hour SMA might look for support in the 100-hour simple moving average near 1.0880, Further below note the combination of the 200-hour SMA and the 1.0850 level. Below these levels, the 1.0840 mark and the weekly simple pivot point could stop another decline.

On the other hand, a resumption of the Euro surge against the US Dollar is expected to once again test the resistance of the 1.0920/1.0925 range, prior to approaching the 1.0950 mark and the weekly R2 simple pivot point at 1.0957.
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