EUR/USD finds support in 1.3050

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


The decline of the EUR/USD has entered a consolidation. Namely, the pair found support in the 1.0350/1.0355 level and resistance to the sideways trading was provided by the 1.0420 level.

A move above the 1.0420 mark might encounter resistance in the 50-hour simple moving average near 1.0430. Higher above note the previous support zone at 1.0472/1.0492, which could act as resistance.

Meanwhile, a decline of the Euro against the US Dollar is bound to look for support in the 2017 low level at 1.0340. A move below this level would result in the pair being at levels not seen since 2002.
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