EUR/USD finds support in 1.0900

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


On Thursday, after the US CPI publication, the EUR/USD found support in the 1.0900 mark. Meanwhile, resistance was provided by the prior support range at 1.0950/1.0955. This week, the pair fluctuated between the two levels, as it consolidated, as indicated by rather flat trading and approaching hourly simple moving averages.

In the near term future, the pair could look for support in the 1.0900 mark. If this level fails to hold, the rate could look for support in the weekly S1 simple pivot point at 1.0891. A failure of the pivot point might result in a decline to the 1.0850 level and the weekly S2 simple pivot point at 1.0847.

On the other hand, a recovery of the Euro against the US Dollar might be slowed down by the 50 and 100-hour simple moving averages and the weekly simple pivot, before the rate reaches the 1.0950/1.0955 range. Higher above, note the 200-hour simple moving average, the weekly R1 simple pivot point and the 1.1000 mark.
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