EUR/USD decline reaches 1.0400 level

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


The decline of the Euro against the US Dollar has reached the 1.0400 mark, which acted as support. The support of the round exchange rate level was enough to cause a recovery up to the 50-hour simple moving average near 1.0480.

If the resistance of the 1.0480 mark and the 50-hour simple moving average holds, the EUR/USD is set to look for support in the 1.0400 mark. Below the 1.0400 level, the 2017 low level at 1.0340, the 1.0350 mark and the weekly S2 simple pivot point at 1.0330 are going to act as support.

On the other hand, a move above 1.0480 is set to encounter resistance in the 1.0500 level. Higher above, note the 1.0550 mark and the technical levels near 1.0580/1.0600.
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