Tue, May 18, 2021 @ 11:09 GMT
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EUR/USD Recovers On Monday

On Monday morning, the EUR/USD currency exchange rate was recovering from the Friday’s low level of 1.2065. During the early hours of European trading, the rate was testing the resistance of the 1.2100 mark.

If the currency rate manages to pass the resistance of the 1.2100 mark, the pair could reach for the resistance of the weekly simple pivot point at 1.2127 and the 200-hour simple moving average at 1.2125. Meanwhile, additional resistance could be provided by the 55 and 100-hour simple moving averages near the 1.2150 mark.

On the other hand, in the case of the rate bouncing off the resistance of the 1.2100 mark, it could aim at the February low level of 1.2020 and the weekly S1 simple pivot point at 1.2011.

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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