EUR/USD ignores moving averages

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


Since Friday, the EUR/USD has been almost flat. The rate has continued to fluctuate near 1.0920. Meanwhile, it was spotted that the pair is mostly ignoring the 50 and 100-hour simple moving averages.

A move above the 1.0940/1.0950 zone is expected to encounter resistance in the weekly R1 simple pivot point at 1.0990. 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 200-hour simple moving average near the 1.0900 mark. Further below, support is expected to be found at 1.0840/1.0850.
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