EUR/USD is pushed by SMA

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


On Thursday, the support of the 55-hour simple moving average managed to push the EUR/USD up, as just before mid-day the rate started a surge. However, on Friday morning the rate bounced off the 1.1920 level and retraced back to the combined support of the 55-hour SMA and the zone near 1.1880.

If the 55-hour SMA and the 1.1880 support zone manages to provide enough support, the rate could resume its surge. A potential move up would test the resistance zone near 1.1940, where the March 22 high levels are located at. In the case of a larger move upwards, the rate could reach for the 1.2000 level.

A failure of the SMA and 1.1880 level could result in a decline to the support of the 100-hour SMA, the weekly S2 simple pivot point and a support zone in the range from 1.1855 to 1.1835.
Back to articles

Actual Topics

Fri, 09 Apr 2021 06:46:01 GMT

GBP/USD extends decline

During the early hours of Friday's trading, the GBP/USD passed the support zone above the 1.3720 level. This support kept the rate up since the middle of Wednesday's trading. The failing of the support resulted in a sharp move down. In the near term future, the rate was expected to test the support of the March low levels in the 1.3670/1.3675

Fri, 09 Apr 2021 06:22:30 GMT

AUD/USD breakout occurs

The Australian Dollar rose by 54 pips or 0.71% against the US Dollar on Thursday. The surge was stopped by a resistance line at the 0.7660 level during yesterday's trading session.

Subscribe to "Fundamental Analysis" feed

Souscrire
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.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
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.