EUR/USD analysis: Tests new zone
|EUR/USD
On Tuesday, the EUR/USD managed to break the resistance of the zone near the 1.1840 level. It resulted in a surge to the 1.1880 zone, which held the rate down from 18:00 GMT up to the time of writing 11:00 GMT.
If the resistance of the zone fails to keep the EUR/USD down, the currency exchange rate could reach for the 1.1900 mark and the weekly R3 simple pivot point at 1.1899. In the case of these levels failing to hold, the rate would aim at the March 22 high level zone near 1.1940.
On the other hand, if the resistance of the 1.1880 zone holds, the EUR/USD could return to the weekly R2 simple pivot point at 1.1848, the 1.1850 mark and the support zone that lasts from 1.1845 to 1.1835.
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.