EUR/USD trades between two zones

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


Since mid-Tuesday, the pair has been fluctuating around the 1.0900 mark. However, the fluctuation range has its borders. Support is found in the 1.0870/1.0880 range. Resistance is provided by the 1.0940/1.0950 zone.

A move above the 1.0940/1.0950 zone is expected to encounter resistance in the weekly S1 simple pivot point at 1.0965. Higher above, the 1.1000 mark is bound to act as resistance.

On the other hand, a decline of the Euro against the US Dollar is going to look for support in the 1.0870/1.0880 range and the weekly simple pivot point and the 200-hour simple moving average. Further below, support is expected to be found at 1.0840/1.0850.
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