EUR/USD returns back below 1.1000

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


The EUR/USD has bounced off the combined resistance of the weekly simple pivot point and the 100-hour simple moving average, before reaching the 1.1050 level. The following decline has reached below the 1.0960 level during mid-Tuesday trading.

An extension of the ongoing decline is highly likely going to look for support in the 1.0935/1.0950 range, before approaching the weekly S1 simple pivot point and the 1.0900 mark. Below, 1.0900, the most close by support is the weekly S1 at 1.0829.

A recovery of the European currency against the US Dollar is set to face resistance in the 1.1000 mark and the 50 and 100-hour simple moving averages. Higher above, note the weekly simple pivot point at 1.1035.
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