EUR/USD reaches new July low

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


The release of the US Consumer Price Index data on Tuesday caused high volatility of the EUR/USD and eventually a booking of new July low level at 1.1773 during the early hours of Wednesday's trading.

By the middle of Wednesday's European trading hours, the currency exchange rate had recovered and was expected to reach the resistance of the 55, 100 and 200-hour simple moving averages near 1.1830/1.1840. In the case that the pair passes these levels, the EUR/USD would aim at the weekly simple pivot point at 1.1852 and afterwards the 1.1900.

On the other hand, a bounce off from the resistance of the simple moving averages, could result in a test of the support of the new July low level at 1.1773.
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Wed, 14 Jul 2021 12:43:29 GMT

GBP/USD returns to 1.3900

The GBP/USD traded with high volatility due to the US CPI release on Tuesday. However, on Wednesday, the rate had recovered and appeared to be set for another test of the resistance zone above the 1.3900 mark. In the case that the rate passes the resistance of the 1.3900 mark, the GBP/USD would find resistance in the 1.3950 mark and afterwards

Wed, 14 Jul 2021 06:23:34 GMT

USD/CAD two scenarios likely

On Tuesday, the US Dollar edged higher by 90 pips or 0.74% against the Canadian Dollar. The currency pair tested the upper line of a descending channel pattern during yesterday's trading session.

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