Support & Resistance Levels for EUR/USD

Yesterday was a tough day for us, as most Forex majors made a turnaround. EUR/USD climbed over 100 pips, while GBP/USD surged from 1.3980, to 1.42- this was an unexpected move, as it followed several days of trending higher for the Buck. That being said, it has brought old levels back into play- let’s have a look at these support and resistance levels for EUR/USD.

Moving averages form decent support and resistance levels

EUR/USD

Resistance

1 – 1.2450-60 (Medium – Today and yesterday’s high)

2 – 1.2490-1.25 (Strong – Big round number)

3 – 1.2530-40 (Strong – The high of the last 3 years)

4 – 1.25.50 (Medium – Prior support)

Support

1 – 1.2420 (Medium – 100 SMA on the H1 chart)

2 – 1.24 (Medium – 20 SMA on the H4 chart)

3 – 1.2350 (Strong – 50 and 100 SMAs on H1 and H4 charts)

4 – 1.23 (Medium – m Big round number)

Today, this air has been pushing up. Based on the price action, however, I sense selling pressure around 1.2450-60 on EUR/USD. After the undesirability of yesterday’s market, today, I am cautious. These support and resistance levels should be of assistance, and  I will keep them in mind when trading this Forex pair.

ABOUT THE AUTHOR See More

Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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