USD/CAD reaches support zone

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


The USD/CAD currency exchange rate has been trading with high volatility, as can be deducted from the size of the hourly candles. Meanwhile, on Tuesday morning, the rate reached the support of the 1.2429/1.2433 zone.

In the case that the rate passes the support zone, it could almost immediately find support in the weekly simple pivot point at 1.2427. Below the pivot point, the rate could be supported by the 200-hour simple moving average near 1.2410.

Meanwhile, a potential recovery of the rate might encounter minor resistance in the 50-hour simple moving average. Above the SMA, a descending trend line could act as resistance. The trend line connects the recent high levels.
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Tue, 09 Nov 2021 11:57:55 GMT

EUR/USD reaches above 1.1600

The EUR/USD currency exchange rate's surge reached above the 1.1600 mark on Tuesday. During the recent surge, the rate eventually passed the resistance of the 50, 100 and 200-hour simple moving averages. In the case that the pair continues to surge, the EUR/USD might test the resistance zone at 1.1617/1.1625 and the weekly R1 simple pivot point at 1.1620.

Tue, 09 Nov 2021 08:39:49 GMT

GBP/JPY trades sideways

First of all note that the recent fluctuations of the GBP/JPY have provided the opportunity to adjust the support and resistance zones, which impact the rate. Namely, the rate trades between the support zone at 152.55/152.75 and the resistance of 153.65/153.75. Meanwhile, note that between the support and resistance zone the 50-hour simple moving average is located at. The SMA has

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