USD/CAD plummets due to fundamentals

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


During Wednesday's afternoon, US Final GDP, Consumer Confidence and Building Starts data showed contradicting information, which was represented by a wide hourly candle. The rate bounced between the borders of the minor scale channel down pattern until the pattern's support broke.

The event was followed by a sharp decline to the support levels at 1.2835/1.2850. However, on Thursday morning, the support levels failed, and by mid-day the rate was approaching the December 16 and 17 high level zone near 1.2810.

If the USD/CAD declines below the 1.2810 level, the 1.2800 mark might immediately provide support. Below the 1.2800 mark, the December 16 low level at 1.2765 might act as support.

Meanwhile, a recovery of the rate would most likely find resistance in the 1.2835/1.2850 zone.
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Thu, 23 Dec 2021 11:58:04 GMT

EUR/USD surges to 1.1340

The EUR/USD broke out of the previous trading range to the upside. The surge ended at the 1.1340 mark, which served as resistance. By the middle of Thursday's trading, the pair had retreated and had almost reached the 1.1300 mark. A move below the 1.1300 mark could immediately find support in the 100 and 200-hour simple moving averages at 1.1290.

Thu, 23 Dec 2021 10:15:53 GMT

GBP/JPY books new high

By the middle of Thursday's trading, the GBP/JPY had reached above the 153.20 level. During its surge, the rate was slowed down by the 151.50 level, the weekly R1 simple pivot point at 152.23 and the previous December high level at 152.60. If the pair continues to surge, the 153.50 mark might slow down a surge. Meanwhile, the weekly R2

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