EUR/USD fails to recover

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


On Tuesday, the Euro suddenly sharply recovered against the US Dollar and even reached above parity. However, the rate bounced off the 1.0020 level and resumed its decline. On Wednesday morning, the pair was fluctuating near the 0.9950 level. In the meantime, the 50-hour simple moving average had caught up with the rate and was acting as resistance.

In the case of a resumption of the decline of the Euro compared to the USD, the rate might look for support once again in the 0.9900 mark. Further below, note the weekly S2 simple pivot point at 0.9875.

On the other hand, another attempted recovery would have to pass the 50-hour simple moving average and the 0.9990/1.0020 zone. In addition, note the 100-hour simple moving average near 1.0019. Higher above, it could be possible that the 1.0050 and 1.0100 levels act as resistance.
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Wed, 24 Aug 2022 09:05:21 GMT

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