EUR/USD respects pivot points

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


It was recently spotted that the EUR/USD, despite being impacted by fundamentals events, has been respecting the support of the weekly S1 simple pivot point at 1.0525 and the weekly simple pivot point at 1.0571.

A move above 1.0571 is expected to face the combination of the 100 and 200-hour simple moving averages near 1.0585. Higher above, note the 1.0600 level. Event farther above, take into account the weekly R1 simple pivot point and the 1.0635/1.0640 range.

On the other hand, a decline of the Euro against the US Dollar would have to pass below the weekly S1 at 1.0525 and the 1.0500 mark. Below these levels, the weekly S2 could stop a decline at 1.0457.
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