EUR/USD respects round levels

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


Despite the ECB rate cut, despite the good US employment data, the resistance of the 1.0900 held. The rate appears to be more respecting round exchange rate levels than fundamentals. However, it could be a coincidence that the US employment data did not come in below expectations and cause a breaking of the 1.0900 mark.

In regards to support note the 1.0800 mark and the support zone that surrounds it. The 1.0800 has been impacting the rate all of May. First it acted as strong resistance and afterwards turne dinto support in the later part of the month. Below this level, the 1.0750 has shown to be capable of impacting the pair. Meanwhile, 1.0700 level had been ignored during late April.

On the other hand, a surge of the currency pair would have to break the 50, 100 and 200-hour simple moving averages, before the pair attempts to reach above 1.0900. Above the 1.0900 mark, the 1.1000 level is expected to act as strong resistance.
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