Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD
On Monday, the EUR/USD currency pair was consolidating in the 1.0800 area. During today's morning, the pair raised to the resistance formed by the Fibo 23.60% and the weekly PP in the 1.0900 area.
If the given resistance holds, it is likely that a reversal south could occur in the short run. In this case the exchange rate could gain support from the 55-hour SMA near 1.0810.
Otherwise, the currency pair could breach the given resistance in the nearest future. However, note that the pair would have to surpass the 200-hour SMA near 1.0940. If the given SMA does not hold, the pair could reach 1.1000.
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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