EUR/USD decline reaches below 1.0100

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


The EUR/USD has continued to decline, as the resistance of the 50-hour simple moving average was enough to cause a move below the 1.0150 mark. On Friday morning, the pair passed below the support of the round exchange rate level and plummeted to the support of the weekly S3 simple pivot point at 1.0074.

In the meantime, the pair has revealed to have been declining in a channel down pattern since the sharp decline of July 5. The pattern could guide the rate downwards. However, the publication of the US Employment data at 12:30 GMT might break the pattern.

In theory the currency rate should consolidate its decline by a minor recovery. A potential recovery would face the resistance of the 1.0150 level, the upper trend line of the channel pattern and the 50-hour simple moving average. Higher above, note the 1.0200 mark and the weekly S2 simple pivot point at 1.0220.

On the other hand, a decline below the weekly S3 simple pivot point and the support line of the channel pattern, the rate might find support in the 1.0050 level. Further below, the 1.0000 level or parity of the Euro against the US Dollar is located.
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