EUR/USD reaches below 1.1400

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Source: Dukascopy Bank SA


The EUR/USD has reached below the support of the 1.1412/1.1416 zone. However, after shortly reaching below the 1.1400 mark, the pair found support in the 100-hour simple moving average. In the meantime, it was spotted on Tuesday that the pair has been declining since February 4 in a channel down pattern.

In the case that the Euro recovers against the US Dollar, the pair would have to pass the combined resistance of the 50-hour simple moving average and the upper trend line of a channel down pattern near 1.1435, before aiming at the 1.1472/1.1485 high level zone.

On the other hand, a decline of the Euro or a strengthening of the US Dollar would once again result in the EUR/USD looking for support in the 100-hour simple moving average and the 1.1400 mark. A move below the 1.1400 would approach the weekly simple pivot point at 1.1358 and the 1.1350 mark.
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Tue, 08 Feb 2022 12:44:19 GMT

GBP/USD recovers on Tuesday

The GBP/USD currency exchange rate surged on Tuesday, as it reached above the resistance of the 50 and 100-hour simple moving averages near 1.3530 and 1.3550. At mid-day European trading hours, the pair shortly reached above the 1.3560 level. If the Pound continues to surge against the US Dollar, the pair could aim at the February high level zone at 1.3615/1.3628.

Tue, 08 Feb 2022 09:47:01 GMT

USD/CAD finds support in low level zone

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