HomeContributorsTechnical AnalysisEUR/USD Will Stay Near 1.1500

EUR/USD Will Stay Near 1.1500

The European Single Currency appreciated 0.40% against the US Dollar since Friday’s session. During the last trading session, the currency pair broke the resistance of the monthly S1 at 1.1482 and was stopped by the 200-hour SMA at 1.1539. On Monday, the rate broke the weekly PP at 1.1523 to trade at the 1.1542 mark.

In regards to the near-term future, most likely, the rate will trade sideways to stay near the 1.1500 level due to a lack of any fundaments during the trading day. The 200-hour SMA should resist the European Single Currency during the day.

Besides, the 55-hour SMA will try to catch up the rate after the Friday’s surge.

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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