EUR/USD passes below moving average

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Source: Dukascopy Bank SA


By the middle of Friday's trading, the EUR/USD had passed below the combined support of the 1.0400 mark and the 55-hour simple moving average.

A continuation of the Euro's decline against the US Dollar might look for support in the 1.0350 mark, the weekly simple pivot point at 1.0359 and the approaching 50, 100 and 200-hour simple moving averages. Further below, note the 1.0300 mark, which acted as support on Wednesday morning.

On the other hand, a recovery of the pair above the 1.0400 mark and the 55-hour simple moving average could once again test the weekly R1 simple pivot point at 1.0446 and the 1.0450 level. Higher above, note the 1.0500 mark.
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Fri, 25 Nov 2022 13:05:14 GMT

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