EUR/USD 200-hour SMA reaches support range

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


The 200-hour simple moving average has reached and strengthened the support of the 1.0655/1.0665 range. Meanwhile, the 50 and 100-hour simple moving averages appear to be failing at impacting the EUR/USD.

A surge of the Euro against the US Dollar is set to face various resistance levels. Initially, the 1.0720 level could reverse another attempt at moving higher. Afterwards, note the early November high level range at 1.0745/1.0755. Immediately next to the high level range the mid-September high is set to act as resistance at 1.0766. Higher above, note the 1.0800 mark.

In the case of a currency pair decline, the rate would have to pass below the support range at 1.0655/1.0665, before approaching the 1.0600 mark. The round exchange rate level has been impacting the rate as support and resistance throughout October and early November. Below 1.0600, note the November low level at 1.0520.
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