Euro against Dollars

• By James Edward
• Posted May 06, 2021
• 0 Comments

The EUR/USD pair stood at the level of 1.20112 with the percentage change of -0.09% when compared to the previous sessions in the trading market on Thursday, yet again the EUR/USD pair has witnessed a back and forth momentum in the trading sessions. Euro is now getting quite less support against the US Dollars in the trading sessions.

The US Dollar index stood at the level of 91.656 in the trading sessions.

On the other hand the Daily SMA-200 stood at the level of 1.1946 and the previous day high stood at the level of 1.2066 in the trading sessions.

The EUR/USD pair is testing at the support at 1.1990 while the US Dollar is gaining ground against the basket of major other currencies, and the pair managed to settle below the support level at 20-day EMA at 1.2020 and is testing the next support level which is at the level of 50-day EMA at the level of 1.1990.

If the pair manages settles below the level of 50-day EMA then it will head towards the next support level at 1.1965, and a successful test will push towards the next support at the level of 1.1925. On the upside momentum the resistance for the pair is seen at the level of 1.2040, a move above the resistance level will open the next resistance level at 1.2060.

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