EUR/USD Analysis: reached 1.1030
|EUR/USD
On Thursday, the EUR/USD currency pair raised to the psychological level at 1.1030. During today's morning, the pair was testing the support provided by the 100-hour SMA at 1.1017.
If the given support holds, it is likely that some upside potential could prevail in the market in the nearest future. In this case the exchange rate could face the resistance formed by the 200-hour SMA, currently located at 1.1041.
If the given support does not hold, it is likely that the Euro could depreciate against the US Dollar in the nearest future. However, note that the currency pair could gain support of the 55-hour SMA at the 1.10111 mark.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.