EUR/USD analysis: Remains below 1.2200

Dukascopy Bank Team Dukascopy Bank SA

EUR/USD

Since reaching the 1.2175 mark on Friday, the EUR/USD currency exchange rate has traded below it. In the case of the rate managing to pass this resistance, the pair could reach for the 1.2200 mark and afterwards the weekly R1 simple pivot point at 1.2232.

On the other hand, a potential decline of the rate could look for support in the weekly simple pivot point at 1.2109, the 55-hour simple moving average and the 1.2100 level.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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