EUR/USD remains near 1.0900

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


The EUR/USD has been moving in reaction to US data, comments on Federal Reserve policy and the ECB announcement. In general, the rate has been pushed up and down, but it is still near the 1.0900 level. Support is found in the 1.0870/1.0880 range and resistance has been confirmed to be located at 1.0940/1.0950.

On Monday, the rate was located just above the 1.0870/1.0880 range. Meanwhile, resistance appeared to be found in the combination of the 1.0900 mark and the weekly simple pivot point. In addition, the 50 and 100-hour simple moving averages were acting as resistance.

If the rate breaks down below 1.0870, it is expected that the rate will look for support in the 1.0840/1.0850 range and the weekly S1 simple pivot point at 1.0850. Further below, support might be found at 1.0823 where the weekly S2 is located at.

In the case of a Euro surge against the US Dollar, the pair would have to break the 1.0900 mark. Higher above, the weekly R1 simple pivot point might slow down the pair, before the 1.0940/1.0950 range is tested.
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