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EUR/USD Breaks Resistance Levels

On Tuesday morning, the EUR/USD found support in the 1.1260/1.1267 zone, which has kept the rate up since December 8. By the middle of the day’s GMT trading hours, the pair had almost reached the December 10 high levels above the 1.1320 mark.

If the rate would pass the resistance of the 1.1320 mark, the EUR/USD could reach for the December high level zone at 1.1355/1.1360. Above the zone, the weekly R1 simple moving average at 1.1373 might stop a potential surge.

On the other hand, a bounce off from the resistance could cause a decline. A potential decline might look for support in the technical levels at 1.1290/1.1300. In that range the 50, 100 and 200-hour simple moving averages were located together with the weekly simple pivot point. Below these levels, the support zone at 1.1260/1.1267 might stop a decline.

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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