EUR/USD looks for support

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


The EUR/USD eventually bounced off the resistance of the 1.0750 mark and by the middle of the day's trading, the pair had reached below the support line of the channel up pattern, which had guided the surge since mid-May. However, support was almost immediately found in the 1.0625/1.0640 range, the 100-hour simple moving average and the weekly R1 simple pivot point at 1.0649.

A resumption of the surge of the Euro against the US Dollar is expected to test the resistance of the weekly R2 simple pivot point at 1.0737. However, note the resistance of the 1.0700 mark, which on Wednesday was being strengthened by the 50-hour simple moving average.

On the other hand, a decline of the Euro against the US Dollar is expected to almost immediately find support in the 1.0600 level and the zone below it.
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Wed, 25 May 2022 14:22:51 GMT

GBP/USD reveals support and resistance

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