EUR/USD trades around 1.0000

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Source: Dukascopy Bank SA


Since the EUR/USD reacted to the US Consumer Price Index release, the pair has been fluctuating around the 1.0000 mark. Support is being provided by the 0.9950 level and resistance is found at 1.0015 and 1.0030.

In the case that the Euro hosts a recovery against the US Dollar the pair would have to pass the 1.0015 and 1.0030 levels, before approaching the 1.0050 level and the weekly simple pivot point at 1.0052. Higher above, there is a resistance zone near the 1.0100 mark. Namely, the 1.0095/1.0110 range could reverse the pair.

On the other hand, a decline of the currency exchange rate is set to look for support in the 0.9950 level. Further below, note the weekly S1 simple pivot point at 0.9907 and the 0.9900 mark.
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