Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD
Since Monday, the EUR/USD has been testing the support of the 1.1585/1.1595 zone. In the meantime, it was spotted that on Tuesday and Wednesday the currency exchange rate failed to recover due to the resistance of the 55-hour simple moving averages.
If the 55-hour simple moving average continues to push the pair down, it could pass the support of the 1.1585/1.1595 zone. A potential decline might look for support in the weekly S2 simple pivot point at 1.1532. However, note that the 1.1550 mark might slow down a drop of the EUR/USD.
Meanwhile, a recovery and breaking of the resistance of the 55-hour SMA would encounter resistance in the 1.1615/1.1625 zone and the 100 and 200-hour simple moving averages, which have moved into the zone.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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