Euro against Dollars

• By James Edward
• Posted May 12, 2021
• 0 Comments

The EUR/USD pair stood at the level of 1.21310 with the percentage change of -0.11% when compared to the previous sessions in the trading market on Wednesday, yet again the EUR/USD pair has witnessed a back and forth momentum in the trading sessions. Euro is now getting quite less support from the traders who invest in the EUR/USD pair in the trading sessions.

The US Dollar index stood at the level of 91.00 in the trading sessions.

On the other hand the EUR/USD pair declined below the support level at 1.2155 and it is trying to settle below the next nearest support level which is at the level of 1.2130, and once the pair reaches below this level at 1.2130 it will move towards the next nearest support level at 1.2115.

A successful test of this level will then open the way to the test of the support at the level of 1.2090, and in case if the pair declines below the support at 1.2090 it will head towards the support which is at the 20-day EMA at the level of 1.2065

On the upside momentum the resistance for the pair is seen at the level of 1.2175, and if in case then it gets above this level then it will move towards the next resistance at the level of 1.2220 in the trading sessions.

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