USD/CAD finds support in trend line

Source: Dukascopy Bank SA


On Monday, the resistance of the 1.2400 held and caused a decline of the USD/CAD. However, during the mid-day hours of the day the rate found support in the ascending trend line of the October 27 and 29 low levels. The trend line provided enough support for a follow up surge to pass the 1.2400 mark.

If the surge of USD/CAD continues, it could aim at the late October high level at 1.2430. A passing of this resistance might result in a test of the weekly R1 simple pivot point at 1.2442.

Meanwhile, a decline of the pair could look for support in the 55-hour SMA at 1.2380, the weekly simple pivot point at 1.2371, the 200-hour SMA at 1.2370 and the supporting trend line of the recent low levels.
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Tue, 02 Nov 2021 13:28:31 GMT

EUR/USD finds resistance in SMAs

The recovery of the EUR/USD has reached the resistance of the technical levels that are spread out from 1.1597 to 1.1616. At mid-day on Tuesday, the rate was finding resistance in the 100-hour simple moving average at 1.1610. If the EUR/USD passes the resistance of the 100-hour SMA, it would immediately face the resistance of the 200-hour SMA at 1.1616.

Tue, 02 Nov 2021 11:44:27 GMT

GBP/JPY breaks pattern

On Tuesday morning, the GBP/JPY currency exchange rate passed below the lower trend line of the channel down pattern, which guided the rate throughout the second part of October. If the breaking of the pattern would be followed up by a decline, the rate could look for support in the 154.50 level and the weekly S2 simple pivot point at 154.41. However,

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