HomeContributorsTechnical AnalysisEUR/USD Tests 1.1760 Level

EUR/USD Tests 1.1760 Level

On Friday, the EUR/USD currency pair declined to the 1.1760 level. During today’s morning, the pair was testing the given level.

Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs in the 1.1800/1.1830 area, it is likely that some downside potential could prevail. In this case the rate could target the Fibo 61.80% at 1.1707.

On the other hand, it is likely that the currency pair could gain support at the 1.1760 mark and trade sideways, trying to surpass the predetermined moving averages.

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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