EUR/USD extends decline

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Source: Dukascopy Bank SA


The EUR/USD decline has extended below the 1.1000 mark, as the year started with a surge of the US Dollar against other assets. However, the pair appears to have found support in the 1.0930/1.0935 zone.

A move below the 1.0930 level could result in the pair looking for support in the 1.0900 mark, before reaching the 1.0880/1.0890 range and the weekly simple pivot point at 1.0881.

In the case of a potential recovery of the Euro against the US Dollar note the potential resistance of the 50, 100 and 200-hour simple moving averages and the 1.1000 mark.
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