On Tuesday, the EUR/USD managed to break the resistance of the zone near the 1.1840 level. It resulted in a surge to the 1.1880 zone, which held the rate down from 18:00 GMT up to the time of writing 11:00 GMT.

If the resistance of the zone fails to keep the EUR/USD down, the currency exchange rate could reach for the 1.1900 mark and the weekly R3 simple pivot point at 1.1899. In the case of these levels failing to hold, the rate would aim at the March 22 high level zone near 1.1940.

On the other hand, if the resistance of the 1.1880 zone holds, the EUR/USD could return to the weekly R2 simple pivot point at 1.1848, the 1.1850 mark and the support zone that lasts from 1.1845 to 1.1835.


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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