EUR/USD is pushed by SMA

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


The EUR/USD failed to pass the resistance of the 200-hour simple moving average on Monday. Moreover, during the day the SMA forced the pair into a short period of trading below the support zone of 1.1925/1.1920. During the early hours of Tuesday's trading, the pair had clearly retreated below the support zone.

In theory, the currency exchange rate should decline, as it has no technical support as low as the weekly S1 simple pivot point at 1.1866. However, on its way down, the rate is most likely going to find support in the 1.1900 mark.

On the other hand, a potential surge should have to pass the 1.1920/1.1930 zone. In that zone the pair would face the resistance of the last week's low levels, the weekly simple pivot point and the 55, 100 and 200-hour simple moving averages.
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Actual Topics

Tue, 29 Jun 2021 07:00:53 GMT

USD/CAD tests weekly PP at 1.2344

On Monday, the US Dollar surged by 52 pips or 0.43% against the Canadian Dollar. The currency pair was propelled higher by the 50– hour simple moving average during yesterday's trading session.

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The Great Pound Sterling declined by 81 pips or 0.53% against the Japanese Yen on Monday. The currency pair was pressured by the 50– and 200– hour SMAs during yesterday's trading session.

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