EUR/USD decline continues

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


The EUR/USD has reached a new low level by trading near 1.0760 during the end of the last week. However, a recovery of the Euro followed. On Monday the currency pair bounced off a resistance zone at 1.0825/1.0830. The zone was strengthened by the weekly simple pivot point at 1.0822 and the 100-hour simple moving average. Meanwhile, support appeared to be found in the 50-hour simple moving average near 1.0800.

A move below 1.0800 and the 50-hour SMA could once again look for support in the 1.0760 level. Further below, the weekly S1 could act as support at 1.0740, before the rate reaches 1.0700.

On the other hand, a potential surge would have to break the 1.0825/1.0830 resistance zone. Higher above, the 200-hour SMA might act as resistance.
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