The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
EUR/USD finds SMA support
Yesterday’s early EUR/USD weakness failed to last, with the pair falling down to the 200-hour simple moving average before breaking higher once more. This provides a more bullish picture for the pair given that we are seemingly moving away from a period of consolidation and towards the uptrend that characterized the end of March.
However, we are yet to see this pair really trend once more and thus choppiness is likely to remain until we break free from this zone. Therefore the $1.1438-$1.1454 range will be pivotal as a potential area of resistance today.