EUR/USD once again reaches above 1.0900

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


The EUR/USD found support in the combination of the weekly simple pivot point and the 100 and 200-hour simple moving averages near 1.0840. The event was followed by a surge. By the middle of Wednesday's European trading hours, the pair had reached above 1.0900 and was testing the resistance of the weekly R1 simple pivot point at 1.0906.

By 12:00 GMT, it was observed that the resistance had held and the rate had declined to look for support near the previous resistance zone at 1.0865/1.0875.

A move below 1.0865 could look for support in the 1.0860 level and the 100-hour simple moving average. Further below, note the weekly simple pivot point at 1.0836 and the 200-hour simple moving average.

On the other hand, another attempt at moving higher would face the 1.0900 mark, the weekly R1 simple pivot point at 1.0906 and the 1.0920/1.0925 zone. Above these levels, note the 1.0950 level and the weekly R2 simple pivot point at 1.0957.
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