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The EUR/USD has passed above the resistance range at 1.0555/1.0565 However, the pair has not managed to reach above the 1.0600 mark and the weekly R1 simple pivot point.
An extension of the ongoing surge would have to break the 1.0600 mark and the weekly R1 simple pivot point, before approaching the October high level range at 1.0635/1.0640.
On the other hand, a decline of the pair is expected to look for support in the 100-hour simple moving average and the weekly simple pivot point at 1.0550. Further below, note the last week's low levels at 1.0495/1.0500.
Wed, 18 Oct 2023 12:38:32 GMT
Source: Dukascopy Bank SA
The EUR/USD has passed above the resistance range at 1.0555/1.0565 However, the pair has not managed to reach above the 1.0600 mark and the weekly R1 simple pivot point.
An extension of the ongoing surge would have to break the 1.0600 mark and the weekly R1 simple pivot point, before approaching the October high level range at 1.0635/1.0640.
On the other hand, a decline of the pair is expected to look for support in the 100-hour simple moving average and the weekly simple pivot point at 1.0550. Further below, note the last week's low levels at 1.0495/1.0500.