EUR/USD decline reaches 1.0460 level

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


The decline from the 1.0560 level of the EUR/USD currency pair ignored the 1.0472/1.0492 zone and later on found support in the 1.0460 level. During early hours of Thursday's trading, the exchange rate had recovered from 1.0460 and was trading around the 1.0500 mark.

In the case that the Euro surges against the US Dollar, the pair would have to pass the resistance of the 50-hour simple moving average and the 1.0520 level. Higher above, note the Tuesday's high levels at 1.0550/1.0560 and the weekly R1 simple pivot point at 1.0553. A move above 1.0560 would almost immediately encounter more resistance in the May high level zones at 1.0570/1.0600 and 1.0630/1.0640.

On the other hand, a decline below the 1.0460 level and the 100-hour simple moving average might find support in the 1.0450 mark and the weekly simple pivot point at 1.0451. Below these levels, the 1.0400 mark could act as support, before the May low level at 1.0350 is reached.
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Thu, 19 May 2022 09:10:47 GMT

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