EUR/USD remains below 1.1340

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Source: Dukascopy Bank SA


Last week, the EUR/USD failed at two attempts to pass the resistance of the 1.1340 mark. On December 27, the currency pair was trading above the support of the weekly simple pivot point and the 200-hour simple moving average at 1.1300. Meanwhile, the currency pair was ignoring the support and resistance of the 50 and 100-hour simple moving averages.

In the case that the rate passes below the support of the 200-hour simple moving average, the weekly simple pivot point and the 1.1300 mark, the last week's low levels and the weekly S1 simple pivot point could stop a decline at 1.1260. Further below, note the December low level zone below 1.1240.

On the other hand, a potential surge of the Euro against the US Dollar would have to pass the resistance of the 1.1340 mark, prior to testing the December high levels near 1.1360. Higher above the rate, note the weekly R1 simple pivot point at 1.1368 and the late November high level at 1.1380.
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Mon, 27 Dec 2021 14:18:52 GMT

GBP/USD trades almost flat

Since the middle of December 23, the GBP/USD currency exchange rate has been trading sideways between the 1.3400 mark and a resistance zone above 1.3420. The sideways trading could be explained by the lack of direction caused by the holiday season. If the GBP/USD breaks the resistance of the 1.3423/1.3439 zone, the pair could reach the weekly R1 simple pivot point

Mon, 27 Dec 2021 09:41:53 GMT

USD/CAD tests resistance at 1.2835

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