USD/CAD finds resistance near 1.2720

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


The USD/CAD currency exchange rate bounced off the resistance of the zone that surrounds the 1.2720 mark. Namely, the 1.2715/1.2725 zone is once again impacting the rate. On Wednesday morning, the pair bounced off the resistance zone and began a decline, which was expected to reach the weekly S1 simple pivot point at 1.2685.

If the pair passes below the 1.2685 level, the February low level zone at 1.2652/1.2660 could once again stop a decline. Meanwhile, note that the most close by technical support level below the low level zone is the weekly S2 simple pivot point at 1.2599.

On the other hand, a recovery of the pair would most likely ignore the 50 and 200-hour simple moving averages at 1.2700 and 1.2710 and approach the 1.2715/1.2725 zone.
Back to articles

Actual Topics

Wed, 09 Feb 2022 15:34:04 GMT

EUR/USD breaks pattern

The support of the 1.1400 mark was strong enough on Wednesday morning to cause a breaking of the resistance line, which had guided the rate down since February 4. In addition, the currency exchange rate passed the resistance of the 50 and 100-hour simple moving averages. If the surge of the Euro against the USD continues, the pair could reach

Wed, 09 Feb 2022 10:14:41 GMT

GBP/JPY reaches new monthly high

The GBP/JPY currency exchange rate has passed the previous February high level zone. However, the event did not result in a large surge, as the pair stopped at the 156.75 level. Since the event, the rate has been fluctuating around the 156.50 mark in the 156.30/156.75 zone. A resumption of the surge of the Pound against the Yen could find resistance

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.