EURUSD returns to 1.0700

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


The EUR/USD shortly pierced the resistance zone at 1.0762/1.0766 due to the publication of lower than forecast German Consumer Price Index. Namely, for some reason the lower than expected inflation was seen by the markets as positive for the Euro. However, the pair did not remain above the resistance zone for long. On Friday, the pair was back near 1.0700.

A decline below the support zone at 1.0670/1.0680 might result in the pair looking for support in the 1.0650, 1.0600 and 1.0550 levels. In addition, note the mid-December low level zone at 1.0570/1.0590. Further below, note the 2023 low level at 1.0500.

On the other hand, a recovery of the Euro against the US Dollar could encounter resistance in the 1.0762/1.0766 zone, the 1.0800/1.0805 support and resistance range. Meanwhile, note the late January low level zone, which might turn into resistance at 1.0835/1.0840.
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