EUR/USD plummets to 1.1050

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


The EUR/USD has failed to pass the resistance zone above 1.1200. The rate has declined and passed below one support range after another. On Wednesday, it looked like the currency pair had found support in the 1.1050 range. Meanwhile, resistance was provided by the 1.1075/1.1085 zone.

A recovery above 1.1085 is set to face the weekly S1 simple pivot point at 1.1092 and the 1.1100 mark together with the 50-hour simple moving average. Higher above, note the 1.1120 level and the descending 100 and 200-hour simple moving average. If these levels fail, the rate would have to break the weekly simple pivot point at 1.1150, before approaching the 1.1200 mark.

On the other hand, a decline would have the support of the 1.1040/1.1065 zone. If this range does not hold, then the pair would look for support in the weekly S2 simple pivot point at 1.1022, the 1.1000 mark and the weekly S3 simple pivot point at 1.0961.
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Wed, 02 Oct 2024 12:03:43 GMT

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