EUR/USD returns to 1.1100

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


After breaking the channel down pattern, the EUR/USD eventually surged, as the rate has managed to reach the combined resistance of the weekly simple pivot point at 1.1097, the 200-hour simple moving average and the 1.1100 mark.

A move above 1.1100 might be slowed down by the 1.1150 level and the weekly R1 simple pivot point. Higher above, note the 1.1160/1.1175 and 1.1190/1.1200 ranges.

On the other hand, a decline of the Euro against the USD is expected to look for support in the 50 and 100-hour simple moving averages. In addition, the 1.1040/1.1060 range could provide support. Further below, the pair is expected to pause at the 1.1000 mark.
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Thu, 05 Sep 2024 09:59:01 GMT

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