USD/CAD surges back above 1.2700

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Source: Dukascopy Bank SA


Despite passing below the weekly S1 simple pivot point at 1.2667, the USD/CAD found support and recovered on Tuesday. Namely, the currency exchange rate was supported by the 1.2650/1.2660 zone, which had supported the rate during the first half of February.

During Wednesday's first half of trading, the pair was fluctuating between the 50 and 200-hour simple moving averages at 1.2705 and 1.2740. In addition, the 1.2750 mark had acted as resistance.

If the US Dollar declines against the Canadian Dollar, the pair might look for support in the 1.2700 mark. Below the round exchange rate level, note the weekly S1 simple pivot point at 1.2667 and the support zone at 1.2650/1.2660.

On the other hand, a surge of the pair would have to pass the 200-hour simple moving average near 1.2740 and the 1.2750 mark, before reaching the weekly simple pivot point at 1.2772.
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Wed, 02 Mar 2022 13:05:16 GMT

EUR/USD reaches pivot point

During the early trading of Wednesday's European trading hours, the EUR/USD currency exchange rate reached the support of the weekly S1 simple pivot point at 1.1061. The pivot point managed to cause a recovery of the rate, as by 13:00 GMT the currency pair had reached back above the 1.1100 mark. If the pair continues to surge, it would have

Wed, 02 Mar 2022 09:43:37 GMT

GBP/JPY passes low level zone

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