EUR/USD shortly reaches above 1.0600

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


At mid-day on Monday, the EUR/USD reached above the 1.0600/1.0607 zone. However, resistance was immediately encountered in the weekly R1 simple pivot point at 1.0616. During the first half of Tuesday's trading hours, the pair was fluctuating below the 1.0600 mark and the 1.0570 level. Meanwhile, the pair was being approached by the support of the 50-hour simple moving average.

In general, previous forecasts remained unchanged. A move above 1.0600/1.0607 could encounter resistance in the weekly R1 simple pivot point at 1.0616. Higher above, note the 1.0650 mark and the weekly R2 simple pivot point at 1.0679.

On the other hand, a decline of the Euro against the US Dollar could find support in the 1.0570 level and the 50-hour simple moving average. Below these levels, note the ascending support line and the 100-hour simple moving average near 1.0560. Further below, the weekly simple pivot point at 1.0542 and the 200-hour SMA might act as support.
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