EUR/USD passes support levels

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


The EUR/USD has passed below the 1.0700 mark, which previously acted as support. In general, the pair has reached levels not seen since March, as the US Dollar continues to gain value.

An extension of the ongoing decline might be slowed down by round exchange rate levels, as it has been spotted that round levels manage to impact the rate. In the meantime, note that weekly simple pivot points have also shown to be capable to impact the pair.

On the other hand, a potential recovery of the Euro against the US Dollar could face resistance in the 1.0700 mark and the declining hourly simple moving averages.
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Wed, 31 May 2023 10:32:37 GMT

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