EUR/USD bounces off 1.0080

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


The fundamental recovery of the EUR/USD eventually found resistance in the 1.0080 level. The 1.0080 level and the Friday's high level have been marked as a resistance zone. Meanwhile, the recent low levels have been charted to show a support zone. At mid-day on Thursday, the pair traded between the two zones at 1.0080/1.0090 and 0.9970/0.9980.

In the case of a decline below 0.9970/0.9980, the currency pair might look for support in the August low level zone at 0.9900/0.9915. Below the month's low levels, the weekly S1 simple pivot point at 0.9878 might stop a decline.

However, a potential recovery and move above 1.0080/1.0090 would face resistance at 1.0097, 1.0100, 1.0123 and 1.0142. These levels have acted as support and resistance during early August trading.
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Thu, 01 Sep 2022 10:53:06 GMT

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