USD/CAD surges above 1.2800

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Source: Dukascopy Bank SA


The US higher than expected inflation data has revealed that the Federal Reserve has to hike interest rates more than previously expected. Due to that reason, the US Dollar has massively surged. On the USD/CAD charts it has resulted in a surge as high as the 1.2850 level during the early hours of Monday's trading.

A move higher by the currency exchange rate is set to look for resistance in the weekly R1 simple pivot point at 1.2885, prior to approaching the 1.2900 and 1.2950 levels.

However, a potential consolidation by the US Dollar is most likely going to find support in the 1.2800 mark.
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Mon, 13 Jun 2022 10:58:38 GMT

EUR/USD declines below 1.0500

The surge of the US Dollar, which was caused by the US Consumer Price Index release on Friday, continued on Monday. By the middle of the day's European trading hours, the EUR/USD had passed below the support of the 1.0500 mark and reached 1.0470. A continuation of the move downwards could look for support in the 1.0450, 1.0400 and 1.0350

Mon, 13 Jun 2022 08:58:01 GMT

GBP/JPY plummets below 165.00

The GBP/JPY currency exchange rate has reached below the recent low level support line, the weekly simple pivot point, the 200-hour simple moving average and the 165.00 mark. The reason for the move is fundamental. The government of Japan has addressed the issue of a too low Japanese Yen. Namely, as measures of increasing the value of the Japanese currency

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