EUR/USD reveals support and resistance

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


In the aftermath of the ECB caused surge, the EUR/USD currency exchange rate has begun to consolidate by trading sideways. The rate has been trading sideways between the support of the 1.1412/1.1416 zone and resistance at 1.1472/1.1485.

In the case that the rate ends its sideways trading by surging, the EUR/USD could immediately encounter resistance in the form of the 1.1500 mark. Higher above, the most close by technical resistance was the weekly R1 simple pivot point at 1.1578.

However, a decline below the 1.1412/1.1416 zone might look for support in the weekly simple pivot point at 1.1358 and the 100-hour simple moving average near 1.1360. Below these levels, the 1.1300 mark might act as support.
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