The EUR/USD passed the support of the 50, 100 and 200-hour simple moving averages on Thursday. By the middle of Friday’s trading, the pair had reached below 1.1270.
A continuation of the decline might find support in the weekly S1 simple pivot point at 1.1242 and the support zone of the low levels at 1.1228/1.1236. Further below, note the November low level at 1.1186.
On the other hand, a potential recovery might find resistance in the weekly simple pivot point at 1.1313 and the hourly simple moving averages in the 1.1295/1.1310 range.
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