EUR/USD remains near 1.0900

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Source: Dukascopy Bank SA


The EUR/USD appears to be waiting for the Federal Reserve rate hike and press conference by trading near the 1.0900 level. Resistance is found at 1.0920/1.0925 and support is located at 1.0835/1.0840.

A surge of the Euro against the US Dollar might encounter resistance in the weekly R1 simple pivot point at 1.0918 and the 1.0920/1.0925 range. Higher above, take into account the 1.0950 level and the weekly R2 simple pivot point at 1.0970.

On the other hand, a decline could find short term support in the combination of the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages near 1.0880. Below these levels, the 1.0860 and 1.0840 have acted as support.
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