USD/CAD trades sideways

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Source: Dukascopy Bank SA


The USD/CAD reached the resistance of the 1.2452/1.2457 zone and passed it on Thursday. However, since the event, the rate has been trading sideways. Namely, the pair appears to be squeezed in between the support of the mentioned 1.2452/1.2457 zone and the resistance of the 1.2470/1.2472 levels.

A breaking of the 1.2470/1.2472 resistance zone could reach for the 1.2500 mark. Note that the 1.2500 level is surrounded by the October 8 and 10 high and low level zone at 1.2497/1.2507. In addition, the weekly R2 simple pivot point is located at 1.2502.

Meanwhile, a decline below the 1.2452/1.2457 zone's support, could result in a decline. A decline would look for support first in the weekly R1 simple pivot point at 1.2442. Below the pivot point, the 1.2428/1.2434 zone and the 50-hour simple moving average might provide support.
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Fri, 05 Nov 2021 11:42:39 GMT

EUR/USD looks for support

Since the middle of Thursday's European trading hours, the EUR/USD currency exchange rate has been trading above or in the zone of the October low levels at 1.1525/1.1538. In the case that the rate passes the October low levels at 1.1525/1.1538, the pair could look for support in the 1.1500 mark. In addition, note the weekly S1 simple pivot

Fri, 05 Nov 2021 08:54:55 GMT

GBP/JPY pierces support levels

On Friday morning, the GBP/JPY passed the support of the weekly S3 simple pivot point at 153.10 and touched the 153.00 mark. In the case that the rate extends the decline, it would have no technical support. Namely, the 152.50 and 152.00 levels could act as support. These levels provided resistance during the pair's early October surge. On the other hand,

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