EUR/USD resistance holds

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


Prior to the Federal Reserve interest rate hike, the EUR/USD approached the 1.1085/1.1095 resistance zone. After the hike and the follow up press conference, the currency exchange rate continued to test the resistance.

If the Euro strengthens during the upcoming ECB rate hike, the pair could reach above 1.1095 and 1.1100. In this case scenario the pair might be slowed down by the 1.1160 level and the weekly R2 simple pivot point at 1.1157. Higher above, note the 1.1200 mark and the weekly R3.

On the other hand, a decline of the pair could look for support in the 1.1040 and 1.1020 levels and the weekly simple pivot point at 1.1024. Meanwhile, the 50, 100 and 200-hour simple moving averages could act as support near 1.1000. Further below, note the 1.0965 and 1.0940 levels.
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Wed, 03 May 2023 19:09:48 GMT

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The GBP/USD started a surge on Tuesday, which pierced the April high level at 1.2580 by the US Fed rate hike done on Wednesday at 18:00 GMT. In the aftermath of the fundamental event, the rate appeared to have bounced off the high level's resistance. A potential move above 1.2580 could be slowed down by the 1.2600 mark, the weekly R1

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