EUR/USD recovery aims at 1.0900

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


The EUR/USD started a recovery, prior to properly touching the support of the 1.0800 mark. The low levels, which acted as support have been marked on the chart. The follow up recovery had reached above various technical levels including weekly simple pivot points and the 50, 100 and 200-hour simple moving average.

The move back up to previous levels was attributed to the fact that the markets are awaiting for the US Federal Reserve Rate Hike today at 19:00 GMT. In addition, note that the ECB is set to hike interest rate's on Thursday at 13:15 GMT.

In the case of the Fed causing a surge of the pair, the 1.0900 level, weekly R1 simple pivot point and high level zone near 1.0920 might slow down the pair, before the 1.1000 level would be reached.

On the other hand, a decline of the Euro against the USD would look for support at 1.0870, 1.0840, 1.0820 and 1.0800. However, take into account that central bank policy decisions break through and ignore all technical levels.
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