EUR/USD aims at 1.2000

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On Monday, the EUR/USD currency exchange rate was heading to the 1.2000 level. This round price level stopped the rate's surge in early September. Future scenarios were based upon whether this level manages to once again provide resistance.

In the case of the 1.2000 level holding, the rate is likely going to trade sideways until the support of the 55 and 100-hour simple moving averages approach the pair from below.  

On the other hand, if the 1.2000 fails to keep the rate down, the EUR/USD would aim at the resistance of the weekly R1 simple pivot point at 1.2020.

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