EUR/USD reveals resistance range

Source: Dukascopy Bank SA


The EUR/USD has confirmed the 1.0675/1.0690 as a resistance range. Moreover, the range was approached by the 200-hour simple moving average which provided additional pressure.

On Monday, the pair was heading once again to the support of the 1.0600 mark, the weekly S1 simple pivot point at 1.0606 and the 1.0602/1.0613 zone. A move below this zone will look for support in the weekly S2 at 1.0559, the 1.0550 level and the descending support line.

In the case of a surge, the Euro would first face the combination of the weekly simple pivot point and the 50 and 100-hour simple moving averages near 1.0650. Higher above, note the 200-hour SMA near 1.0670 and the 1.0675/1.0690 range. Above these levels, there is more resistance as the weekly R1 simple pivot point is located at 1.0695 and the 1.0700 level is bound to act as resistance.
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