USD/CAD decline reaches below 1.2650

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Source: Dukascopy Bank SA


The USD/CAD currency exchange rate's decline eventually found and confirmed as support the 1.2632/1.2635 zone. On Wednesday morning, the currency pair retraced back up and found resistance in the weekly S2 simple pivot point at 1.2662.

If the currency pair breaks the resistance of the weekly S2 simple pivot point at 1.2662, the USD/CAD could reach the resistance of the 1.2700 mark. Note that the 1.2700 would most likely be strengthened by the 50-hour simple moving average. Above the 1.2700 mark, the last week's low level zone at 1.2713/1.2732 could act as resistance.

On the other hand, a move below the 1.2632/1.2635 support zone would look for support in the weekly S3 simple pivot point at 1.2611. Further below, the pair might be supported by the 1.2600 level.
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Wed, 08 Dec 2021 10:49:47 GMT

EUR/USD respects simple moving averages

On Tuesday, the EUR/USD found support in the support levels near 1.1235. The event resulted in a surge, which passed the resistance of the channel down pattern. However, the rate started to respect the resistance of the 100 and 200-hour simple moving averages and the support of the 50-hour simple moving average. If the EUR/USD breaks resistance of the 100

Wed, 08 Dec 2021 08:57:54 GMT

GBP/JPY passes support level

Previously, the resistance of the 200-hour simple moving average was enough for the GBP/JPY to decline to the support of the 50-hour simple moving average near 150.15. The SMA pushed the rate up into the resistance of the 150.50 mark up to 07:00 GMT on Wednesday. At that hour, the SMA failed, and the pair retreated to the support

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