EUR/USD Analysis: Passes support levels

Dukascopy Bank Team Dukascopy Bank SA

EURUSD

On Tuesday morning, the EUR/USD was declining below the support levels at 1.1250. In general, the rate passed its technical support levels during the moments that they stood each on its own.

From a technical analysis theoretical perspective, the currency exchange rate should decline, as it has no tech support as low as the 1.1220 level where a monthly pivot point is located at.

On the other hand, the sharp decline could stop and the currency exchange rate could consolidate by trading sideways.

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Dukascopy Bank Team

Dukascopy Bank SA

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