EUR/USD finds support in SMA

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


The EUR/USD was looking for support in the weekly S1 simple pivot point, as the US CPI data release caused a surge of the rate. Following the release, the pair was heading to the 1.1000 mark and the technical levels above it.

The pair might encounter resistance in the 1.1000 mark. Higher above, note the combination of the 50, 100 and 200-hour simple moving averages together with the weekly simple pivot point at 1.1015/1.1030. Above these levels, the 1.1050 mark is expected to act as resistance.

On the other hand, a decline of the pair is expected to look for support in the weekly S1 simple pivot point at 1.0942. Further below, note the 1.0900 mark and the weekly S2 at 1.0867.
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Wed, 10 May 2023 13:04:18 GMT

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