USD/CAD breaks ascending pattern

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


The 1.3050 level acted as resistance on Tuesday to the USD/CAD currency pair. The resistance was enough to force the rate into sideways trading. On Wednesday morning, the rate passed below the lower trend line of the channel up pattern, the 50-hour simple moving average and the 1.3000 mark.

A continuation of the decline of the US Dollar against the Loonie might look for support in the weekly R1 simple pivot point at 1.2971, the 1.2950 level and the approaching 100-hour simple moving average. In addition, take into account the previous May and April high levels at 1.2913 and 1.2880.

However, a recovery of the USD, compared to the CAD, is expected to test the resistance of the weekly R2 simple pivot point at 1.3042 and the 1.3050 mark, before the 1.3100 level is approached.
Back to articles

Actual Topics

Wed, 11 May 2022 13:19:10 GMT

EUR/USD remains above 1.0500 despite CPI

On Wednesday, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The markets expected the data for clues in regards to the effectiveness of the first US Federal Reserve Rate hike done on March 15. At 12:30 GMT, the CPI and Core CPI came in at 0.3%

Wed, 11 May 2022 08:12:49 GMT

GBP/JPY trades above support zone

Since early Tuesday's trading hours, the GBP/JPY has been trading between the support zone at 160.08/160.43 and the resistance of the 50-hour simple moving average near 160.80. A move below the support zone could almost immediately find support in the 160.00 mark. Further below, take into account the weekly S1 simple pivot point at 159.58, the 159.50 and 159.00 levels. Meanwhile,

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.