EUR/USD Analysis: meets resistance
|EUR/USD
The decline of the EUR/USD found support in the 1.1080 level and began a surge. The surge was stopped on Tuesday by the resistance of the 55-hour simple moving average and the psychological resistance of the 1.1100 level.
In general, it was most likely that the rate would get pushed down by the 55-hour SMA to the support of a weekly and a monthly pivot points near the 1.1060 level.
On the other hand, the rate might decline to the 1.1080 level and trade above it until the 100 and 200-hour simple moving averages provide additional resistance that pushes the rate down.
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