USD/CAD support and resistance are spotted

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


The volatility of the US Consumer Price Index confirmed previous high and low level zones as resistance and support. Namely, support is located at 1.2910/1.2925 and resistance is at 1.3037/1.3053. On Thursday morning, the pair was testing the resistance zone.

A move above the resistance zone would result in a surge that might encounter resistance in the 1.3100 and 1.3150 levels, before approaching the weekly R3 simple pivot point at 1.3171.

On the other hand, a decline of the US Dollar against the Canadian Dollar could look for support in the 1.3000 mark and the 50-hour simple moving average. Further below, the weekly R1 simple pivot point and the 100-hour simple moving average located at 1.2970. Below the technical levels, the 1.2910/1.2925 support zone is located at.
Back to articles

Actual Topics

Thu, 12 May 2022 10:43:55 GMT

EUR/USD reaches below support

The EUR/USD currency exchange rate eventually declined and on Thursday morning passed below the 1.0500 mark and the support zone at 1.0472/1.0492. By the middle of the day's trading the pair appeared to be heading to the 1.0400 level and the weekly S1 simple pivot point at 1.0397. If the Euro declines against the US Dollar below the 1.0400

Thu, 12 May 2022 08:10:01 GMT

GBP/JPY plummets below 157.00

The all out market sell off, which started at mid-day on Wednesday due to the US CPI release, also impacted the GBP/JPY rate. Namely, the risk off sentiment caused a surge of the Japanese Yen. On the GBP/JPY charts it resulted in a passing of the support zone at 160.08/160.43. Afterwards, a sharp decline started. By 08:00 GMT, the GBP/JPY

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.