EUR/USD reaches weekly S1

Source: Dukascopy Bank SA


The EUR/USD currency exchange rate found support in the weekly S1 simple pivot point at 1.1532. The pivot point held and reversed the rate. On Thursday morning, the following surge appeared to be heading to the resistance of the 55 and 100-hour simple moving averages at 1.1578 and 1.1589.

If the pair passes the resistance of the simple moving averages near 1.1580, the EUR/USD could aim at the 200-hour simple moving average near 1.1620. Above the SMA, the weekly simple pivot point at 1.1631 might serve as resistance.

On the other hand, a bounce off from the 55 and 100-hour SMAs might look for support in the weekly S1 simple pivot point at 1.1532. Below the pivot point, the 1.1500 level would probably provide support.
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Thu, 07 Oct 2021 07:28:59 GMT

GBP/USD finds support

On Wednesday, the GBP/USD passed one support level after another. During the day, all of the technical support levels were passed and the last one of them, the 100-hour simple moving average, was pierced. However, this did not result in a decline, as the combination of the 100-hour SMA and the 1.3550 eventually held and caused a recovery. By the

Thu, 07 Oct 2021 05:33:49 GMT

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