EUR/USD surges above 1.1000

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Source: Dukascopy Bank SA


The EUR/USD has managed to reach above 1.1000. Moreover, the round exchange rate level has turned into support. By the middle of Monday's trading hours, the rate has moved above 1.1025 and the weekly R1 simple pivot point at 1.1022.

An extension of the ongoing decline might aim at the combined resistance of the 1.1050 and the weekly R2 simple pivot point at 1.1056. Higher above, note the 1.1100 mark and the weekly R3 at 1.1112.

On the other hand, a decline of the currency rate is set to find support in the previous resistance levels at 1.1020 and 1.1000. Further below, note the approaching 50, 100 and 200-hour simple moving averages near 1.0980.
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