EUR/USD breaks 1.1200 mark

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


The recovery of the EUR/USD rate has managed to break the resistance of the 1.1200 mark. However, the weekly R1 simple pivot point has provided enough resistance for a retracement back down to occur.

A broader decline of the Euro against the US Dollar is set to result in the rate looking for support in the 1.1180 and 1.1160 level, before approaching the combination of the 50 and 100-hour simple moving averages near 1.1150. Further below, note the weekly simple pivot point at 1.1140 and the ascending 200-hour SMA.

In the case of a surge, the rate has to again pass the 1.1190/1.1200 zone and the weekly R1 simple pivot point at 1.1212, prior to reaching the 1.1250 level and the weekly R2 at 1.1261.
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