EUR/USD declines below support

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


On Wednesday, the EUR/USD declined below the support levels near 0.9800 and reached the 0.9760 level. During the second part of the day the pair fluctuated between the 0.9760 and 0.9800 levels.

A move above 0.9800 could encounter resistance in the 50-hour simple moving average near 0.9840. Higher above, note the Monday's and Tuesday's high levels at 0.9865/0.9875. Afterwards, the 0.9900 mark and the weekly R2 simple pivot point might provide resistance.

On the other hand, a decline of the Euro against the US Dollar might look for support in the combination of the 0.9760 level and the 200-hour simple moving average. Below these levels, take into account the weekly simple pivot point at 0.9719 and the Friday's low levels at 0.9708/0.9715.
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