USD/CAD reveals support zone

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


On Thursday, it was spotted that throughout February the USD/CAD currency exchange rate has been finding support in the 1.2651/1.2656 zone. This zone has reversed three recent declines of the USD against the Canadian Dollar.

During the early hours of Thursday's trading hours, the currency pair was located below the resistance of the weekly simple pivot point at 1.2709 and the 1.2714/1.2724 zone. If the pair passes these resistance levels, the rate could aim at the January high level and the 1.2800 mark. However, take into account that the 1.2750 level might act as resistance.

On the other hand, a potential decline of the USD against the Canadian Dollar might look for support in the combination of the 50 and 200-hour simple moving averages near 1.2680. Further below, the support zone of 1.2651/1.2656 could once again stop a decline.
Back to articles

Actual Topics

Thu, 03 Feb 2022 14:02:45 GMT

EUR/USD jumps due to ECB

On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy. Afterwards, comments made by the head of the central bank Christine Lagarde caused a surge of the currency pair. The surge of

Thu, 03 Feb 2022 09:33:06 GMT

GBP/JPY tests 155.50 mark

On Thursday morning, the GBP/JPY currency exchange rate approached the 155.50 mark and began to test its resistance. Previously, on Wednesday, the 155.50 level stopped the rate's surge. In the case that the 155.50 level is properly passed, the pair could aim at the 156.00 level. Meanwhile, take into account that there are no technical levels providing resistance as high

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.