EUR/USD
Yesterday, the EUR/USD currency pair declined to the lower boundary of the short-term ascending channel at 1.1355. During Wednesday's morning, the pair was testing the given line.
Note, that the exchange rate is supported by the 100-hour moving average, currently located at 1.1352. Thus, it is unlikely, that a breakout south from the channel could occur.
It is expected, that a reversal north should occur within the following trading sessions. In this case, the rate has to surpass the 55-hour SMA at the 1.1383 mark. A possible upside target is the resistance level—the monthly R3 at 1.1412.
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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