HomeContributorsTechnical AnalysisEUR/USD Analysis: Stays At 1.4600

EUR/USD Analysis: Stays At 1.4600

The European Single Currency depreciated 0.47% against the US Dollar since Monday’s session. On Monday morning, the currency pair passed the support of the monthly S1 to trade at the 1.1476 mark.

In regards to the near-term future, the European Single Currency will stay at the 1.4600 level due to support the 50.00% Fibo which should retrace the rate to go upwards to the monthly S1 during the day. Most likely, the 55-hour and the 100-hour SMAs will stop the rate from surge to trade at previously mentioned level.

On the other hand, the rate could pass the 50.00% Fibo to use it as resistance to trade closer to the weekly S1 at the 1.1450 mark.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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