EUR/USD finds resistance in SMA

Source: Dukascopy Bank SA


The recovery of the EUR/USD found resistance on Thursday in the 55-hour simple moving average. On Friday morning, the rate was being pushed down by the SMA into the support of the weekly S1 simple pivot point at 1.1532.

If the EUR/USD passes the support of the weekly S1 simple pivot point, the rate might find support in the round exchange rate level of 1.1500. Below this level, the weekly S2 simple pivot point at 1.1464 might stop a larger decline.

On the other hand, the currency exchange rate might pass the resistance of the 55-hour simple moving average. A passing of the SMA might find resistance in the 100-hour SMA at 1.1580. Above the 100-hour SMA, the 200-hour SMA and the 1.1600 level might act as resistance.
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Fri, 08 Oct 2021 07:07:16 GMT

GBP/USD bounces off weekly high

On Thursday, the GBP/USD bounced off the week's high level zone at 1.3640/1.3650. On Friday morning, the rate was looking for support in the 55 and 100-hour simple moving averages at 1.3600. A passing of the support of the 55 and 100-hour SMAs and the 1.3600 level would most likely result in a decline to the weekly simple pivot point at

Fri, 08 Oct 2021 05:28:42 GMT

USD/CAD tests 1.2530 level

On Thursday, the US Dollar declined by 51 pips or 0.40% against the Canadian Dollar. The currency pair tested the support level at 1.2532 during Thursday's trading session.

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