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By mid-Tuesday's European trading hours, the EUR/USD had declined to the 1.1040 level, as it passed the weekly S1 simple pivot point at 1.1063.
An extension of the ongoing decline of the Euro against the US Dollar is expected to look for support in the 1.1000 mark and the weekly S2 simple pivot point at 1.1002.Further below, note the 1.0930/1.0950 range.
In the case of a recovery of the European currency against the Dollar, the rate would have to pass the combined resistance of the weekly S1 simple pivot point at 1.1063 and the 50-hour simple moving average. Above these levels, take into account the descending 100-hour simple moving average near 1.1135.
Tue, 25 Jul 2023 11:50:43 GMT
Source: Dukascopy Bank SA
By mid-Tuesday's European trading hours, the EUR/USD had declined to the 1.1040 level, as it passed the weekly S1 simple pivot point at 1.1063.
An extension of the ongoing decline of the Euro against the US Dollar is expected to look for support in the 1.1000 mark and the weekly S2 simple pivot point at 1.1002.Further below, note the 1.0930/1.0950 range.
In the case of a recovery of the European currency against the Dollar, the rate would have to pass the combined resistance of the weekly S1 simple pivot point at 1.1063 and the 50-hour simple moving average. Above these levels, take into account the descending 100-hour simple moving average near 1.1135.