EUR/USD returns back above 1.0600

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


The EUR/USD found support in the 1.0520/1.0535 range on Friday and started a surge that by mid-Monday had reached above the 106.00 mark.

The ongoing surge of the Euro against the US Dollar is expected to face the resistance of the 1.0640 level, before the pair approaches the weekly R1 simple pivot point at 1.0662. Above the pivot point, take into account that the 1.0700 stopped the last week's surge.

However, a potential decline of the Euro might result in the rate looking for support in the weekly simple pivot point a 1.0592 and the 50, 100 and 200 hour simple moving averages near the 1.0580 and 1.0570 levels.
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