EUR/USD drops below 1.1600

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At mid-day on Wednesday, the EUR/USD plummeted, as it passed one weekly simple pivot point after another until it found support in the 1.1590 level. By Thursday's European morning hours, the rate had been consolidating by trading sideways between the 1.1590 and 1.1610 levels.

In the near term future, the rate was most likely going to decline, as it had no technical support. Due to that reason, round exchange rate levels are highly likely going to provide support. Namely, the 1.1550 and 1.1500 could stop a potential decline of the EUR/USD.

However, the rate can be considered oversold, as it has left far above it the 55, 100 and 200-hour simple moving averages. In the case of a potential recovery, the pair would face the resistance of the weekly S3 and S2 simple pivot points at 1.1613 and 1.1648.
Back to articles

Actual Topics

Thu, 30 Sep 2021 07:35:38 GMT

GBP/USD extends decline

The decline of the GBP/USD eventually stopped on Wednesday. Namely, the rate found support in the 1.3415 level and retraced back up to the weekly S3 simple pivot point at 1.3463. Up to early hours of Thursday's trading, the pair fluctuated sideways in the 1.3415/1.3463 zone. In theory, the rate should continue to decline, as it has no technical or historical

Thu, 30 Sep 2021 05:27:32 GMT

USD/CAD could still edge up

Upside risks dominated the USD/CAD currency pair on Wednesday. As a result, the US Dollar edged higher by 99 pips or 0.78% against the Canadian Dollar during Wednesday's trading session.

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.