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The EUR/USD has continued to surge, as the markets still take in information that the ECB is set to reduce the supply of the Euro more than expected. In addition, on Monday morning the US Dollar plummeted against all other assets, which boosted the pair's rally.
In the case that the pair continues to surge, it would face resistance at the following levels. 1.0200 mark, weekly R2 simple pivot point at 1.0256, the 1.0300 and 1.0350 levels and the combination of the 1.0400 mark and the weekly R3 simple pivot point at 1.0398.
However, a potential decline of the Euro against the US Dollar might find support in the weekly R1 simple pivot point and the 1.0150 level. Further below, note the 1.0000 mark and the 50-hour simple moving average. Even further below, the 1.0000 mark, the weekly simple pivot point and the 100 and 200-hour simple moving averages could stop a decline.
Mon, 12 Sep 2022 08:03:39 GMT
Source: Dukascopy Bank SA
The EUR/USD has continued to surge, as the markets still take in information that the ECB is set to reduce the supply of the Euro more than expected. In addition, on Monday morning the US Dollar plummeted against all other assets, which boosted the pair's rally.
In the case that the pair continues to surge, it would face resistance at the following levels. 1.0200 mark, weekly R2 simple pivot point at 1.0256, the 1.0300 and 1.0350 levels and the combination of the 1.0400 mark and the weekly R3 simple pivot point at 1.0398.
However, a potential decline of the Euro against the US Dollar might find support in the weekly R1 simple pivot point and the 1.0150 level. Further below, note the 1.0000 mark and the 50-hour simple moving average. Even further below, the 1.0000 mark, the weekly simple pivot point and the 100 and 200-hour simple moving averages could stop a decline.