EUR/USD respects 100-hour moving average

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Source: Dukascopy Bank SA


This week, the EUR/USD currency exchange rate has revealed that it respects the resistance of the 100-hour simple moving average. Namely, the SMA has been pushing the rate down by stopping its attempts at recovering on Friday, on Monday and on Tuesday. By the middle of Tuesday's trading hours, the rate had bounced off the moving average and almost reached the 1.1150 mark.

If the 1.1150 mark provides support to the EUR/USD currency exchange rate, the pair might recover and approach the combined resistance of the 50 and 100-hour simple moving averages at the 1.1200 mark. Higher above, note the weekly simple pivot point at 1.1226.

On the other hand, a decline of the Euro against the US Dollar could look for support in the February and January low level zone at 1.1106/1.1126. Further below, the 1.1100 mark might act as support, before the rate reaches the weekly S1 simple pivot point at 1.1061.
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Tue, 01 Mar 2022 13:11:47 GMT

GBP/USD trades between SMAs

Since the middle of Monday's European trading hours, the GBP/USD currency exchange rate has been fluctuating between the support of the 1.3400 mark and the 50-hour simple moving average and resistance of the weekly simple pivot point at 1.3428 and the 100-hour simple moving average near 1.3430. If the GBP ends the sideways trading with a decline below the 1.3400 mark

Tue, 01 Mar 2022 11:11:02 GMT

USD/CAD trades below 1.2700

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