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EUR/USD Faces No Resistance

At mid-day on Friday, the EUR/USD passed the resistance zone above the 1.1860 level and the 200-hour simple moving average. By doing so the rate passed the last technical resistance up to the 1.1923 level where the weekly R1 simple pivot point is located at.

In theory, the currency exchange rate should surge up to the weekly R1 simple pivot point at 1.1923. However, note that the rate could find resistance in the round level of 1.1900.

On the other hand, a potential decline would find support in the weekly simple pivot point at 1.1852 and the 55 and 200-hour simple moving averages near the 1.1850 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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