EUR/USD reaches above 1.1000

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


The lower than expected overall US inflation data was taken in by the markets as a signal that the US Federal Reserve would not continue to hike interest rates. The news caused a drop of the US Dollar. As a result, the EUR/USD currency pair has surged. By the middle of Thursday's trading, the pair was above 1.1025.

A continuation of the ongoing decline of the US Dollar might result in the pair testing the weekly R2 simple pivot point at 1.1073. However, it has been recently observed that the pair has been respecting round exchange rate levels. Namely, the 1.1050 and 1.1100 levels could impact the pair.

On the other hand, a decline of the EUR/USD is expected to look for support in the 1.1000 mark. Further below, the 1.0965/1.0975 range might act as support, before the 1.0940 and 1.0920 levels are reached.
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