EUR/USD retraces back below 1.0900

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


The EUR/USD has retreated back below 1.0900. However, on Thursday, the rate was making attempts to recover, as it tested the 1.0910/1.0930 range and the combination of the 50-hour simple moving average and the weekly R1 simple pivot point at 1.0928.

A move higher could encounter resistance in the 1.0970 level, which reversed Tuesday's surge. Above 1.0970, it might be slowed down by the 1.1000 mark. Higher above, take into account the weekly R2 simple pivot point at 1.1018. Even higher, the 1.1100 level and the weekly R3 at 1.1110 could stop the pair.

In the case of the pair bouncing off the resistance levels near 1.0930, the EUR/USD cold look for support in the 200-hour simple moving average near 1.0880 and the weekly simple pivot point at 1.0837.
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