USD/CAD books new March low level

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Source: Dukascopy Bank SA


This week, the USD/CAD passed below the March low level at 1.2588. However, support was found in the 1.2565/1.2575 zone, before a recovery started. On Tuesday, the recovery managed to pierce the resistance of the 50-hour simple moving average, which had been acting as resistance since Friday.

In the near term future, the pair might continue to surge, and find resistance in the February low level at 1.2640. Afterwards, the 1.2650 mark might stop a surge, before the pair reaches the weekly simple pivot point at 1.2690 and the 1.2700 mark.

On the other hand, a decline of the US Dollar against the Canadian Dollar should pass the 1.2565/1.2575 zone, prior to approaching the 1.2550 mark. Further below, note the weekly S1 simple pivot point at 1.2507 and the 1.2500 level.
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Tue, 22 Mar 2022 14:44:29 GMT

EUR/USD ignores technical levels

This week, the EUR/USD currency exchange rate mostly ignored the support and resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point. Mainly, the various technical levels manage to hold out for up to five hours, before failing. At mid-day on Tuesday, the pair was located near the 1.1040 mark. Meanwhile, the mentioned technical

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