EUR/USD approaches 1.0800

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


The volatility that was caused by fundamental events is over, as candles are smaller and the rate appears to have established a direction. The EUR/USD has declined, and by mid-Friday it appeared to be heading to the 1.0800 mark.

If the 1.0800 provides enough support, the rate could encounter resistance in the 1.0840 or 1.0860 levels, before approaching the 1.0880 level and the combination of the 50 and 100-hour simple moving averages. Note taht the weekly S1 simple pivot points have been ignored. The round levels impact the pair.

A move below 1.0800 could look for support in round levels until the pair reaches the 1.0700 mark. The 1.0720, 1.0740 and 1.0760 have been acting as support and resistance. Note that the 1.0780 level has not been observed to act as strong impact level.
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