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The EUR/USD managed to pass the resistance of the March high levels at 1.1100/1.1120 during late Thursday's trading hours. However, the passing of the high levels was immediately followed by a steep decline. By the middle of Friday's trading, the pair had already reached the 1.1020 level.
If the EUR/USD continues to decline, the pair could find support in the 100-hour simple moving average near 1.1010, the 1.1000 mark and the 200-hour simple moving average near 1.0990. Further below, note the weekly simple pivot point at 1.0947 and the 1.0950 mark.
However, a recovery of the Euro against the USD Dollar might face resistance near the 1.1050 mark, where the 50-hour simple moving average was located at on Friday. Higher above, the 1.1100/1.1120 zone is highly likely to act as resistance.
Fri, 18 Mar 2022 12:24:14 GMT
Source: Dukascopy Bank SA
The EUR/USD managed to pass the resistance of the March high levels at 1.1100/1.1120 during late Thursday's trading hours. However, the passing of the high levels was immediately followed by a steep decline. By the middle of Friday's trading, the pair had already reached the 1.1020 level.
If the EUR/USD continues to decline, the pair could find support in the 100-hour simple moving average near 1.1010, the 1.1000 mark and the 200-hour simple moving average near 1.0990. Further below, note the weekly simple pivot point at 1.0947 and the 1.0950 mark.
However, a recovery of the Euro against the USD Dollar might face resistance near the 1.1050 mark, where the 50-hour simple moving average was located at on Friday. Higher above, the 1.1100/1.1120 zone is highly likely to act as resistance.