EUR/USD breaks all resistance

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


After breaking all of the resistance near the 1.2260 level at midnight to Wednesday, the rate was heading to the resistance of the 1.2323 level, where the weekly R2 simple pivot point was located.

In the case of the pivot point failing to provide resistance, the pair could reach for the weekly R3 at 1.2389 and afterwards, the 1.2400 round exchange rate level.

On the other hand, the pair might be forced to trade sideways by the weekly R2, as it could consolidate in the aftermath of the recent major gains.
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