EUR/USD returns to 1.0900

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


The reaction to the release of the Federal Reserve Meeting Minutes was minor. Meanwhile, the pair confirmed the 1.0950/1.0965 range as resistance. By mid-Wednesday, the rate had reached the 1.0900 mark and the 100-hour simple moving average, which appeared to be failing to act as support.

An extension of the decline could result in the EUR/USD looking for support in the 1.0850 level, before reaching the combination of the weekly simple pivot point at 1.0831, the 200-hour simple moving average and the 1.0825/1.0830 range. Below these levels, the 1.0800 could provide support, before the 1.0750 level and the weekly S1 simple pivot point are reached.

In the case of the resumption of the broader surge of the Euro against the US Dollar, the pair would have to pass the 50-hour simple moving average at 1.0930 and the mentioned 1.0950/1.0965 range. Higher above, note the combination of the 1.1000 mark and the weekly R1 simple pivot point at 1.0997.
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Wed, 22 Nov 2023 11:09:13 GMT

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