EUR/USD passes prior high range

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


On Friday, the EUR/USD managed to pass the 1.1000 mark's resistance on the second attempt. By mid-Monday's trading, the rate had managed to move above the prior August high level range near 1.1040. However, the 1.1050 mark had acted as resistance, which indicates that the resistance range is broader than previously marked.

A potential surge above 1.1050 could be slowed down by the weekly R1 simple pivot point at 1.1076, before the pair approaches the 1.1100 mark.

On the other hand, a bounce off the resistance range might look for support in the combination of the 1.1000 mark and the ascending 50 and 100-hour simple moving averages. Moreover, take into account the weekly simple pivot point at 1.0993.
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