EUR/USD reaches above 1.1600

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Source: Dukascopy Bank SA


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. Above these levels, the weekly R2 simple pivot point at 1.1670 might provide resistance.

However, a potential decline of the rate might look for support in the combination of the 50 and 100-hour simple moving averages at 1.1570 and the weekly simple pivot point at 1.1567. Below these levels, the 1.1514/1.1537 zone of November and October low levels could keep the rate up.
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Tue, 09 Nov 2021 12:09:22 GMT

GBP/USD surge encounters resistance

The GBP/USD currency exchange rate's surge has encountered resistance at 1.3605/1.3610. This zone proved that it can impact the pair during the first trading sessions of November. If the resistance zone of 1.3605/1.3610 holds, a decline of the rate might occur. A potential move down could find support in the 100-hour simple moving average at 1.3555. Below the 100-hour SMA, the

Tue, 09 Nov 2021 09:22:37 GMT

USD/CAD reaches support zone

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