EUR/USD finds support at 1.0800

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


On Friday, the United States Bureau of Labor Statistics published the country's monthly employment data. Markets reacted to the release by buying the US Dollar and selling off other assets.

On the EUR/USD charts it resulted in a drop to the combined support of the 1.0800 mark and the 100 and 200-hour simple moving averages. These levels held and caused a recovery back to the resistance of the 50-hour SMA and the 1.0840 level.

If the rate passes above 1.0840, resistance could be encountered in the 1.0860 and 1.0880 levels. Above these levels, the 1.0900 mark and the weekly R1 simple pivot point are expected to slow down or stop the surge.

On the other hand, a decline of the Euro against the US Dollar is set to look for support in the weekly simple pivot point at 1.0812, the 100-hour simple moving average near 1.0815. Below these levels, the 1.0790/1.0800 range and the 200-hour SMA are set to impact the rate.
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