EUR/USD recovery ignores moving averages

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


The EUR/USD has continued to recover, as on Wednesday morning the pair reached above 1.0340. During the ongoing surge it was noted that the 50, 100 and 200-hour simple moving averages could barely impact the currency pairs direction. Namely, the SMAs acted as support or resistance only a couple of hours.

A continuation of the ongoing recovery of the Euro against the US Dollar might encounter resistance in the weekly simple pivot point at 1.0359 and the 1.0350 level. Higher above, the 1.0400 level is highly likely set to act as resistance.

On the other hand, a decline of the pair could be slowed down by the combination of the 1.0300 mark and the 50-hour simple moving average, before the 1.0250 level, the weekly S1 simple pivot point at 1.0236 and the 1.0223/1.0226 range would be reached.
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Wed, 23 Nov 2022 10:59:14 GMT

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