EUR/USD Trades Sideways

Since Friday, the EUR/USD has traded sideways. On Monday, the borders of the sideways trading range were marked on the chart. The rate keeps finding support at 1.1433/1.1437. Meanwhile, resistance is being provided by the 1.1456/1.1464 zone.

If the pair resumes its decline and passes the support of the 1.1433/1.1437 zone, the EUR/USD might look for support in the 1.1400 level. Below the 1.1400 mark, the weekly S1 simple pivot point at 1.1384 might stop a decline.

On the other hand, a passing of the resistance zone at 1.1456/1.1464 might result in the rate testing the resistance of the weekly simple pivot point at 1.1497, the 100-hour SMA at 1.1498 and the 1.1500 mark.

November 15, 2021 at 11:43PM
Dukascopy Swiss FX Group
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