EUR/USD decline extends below 1.0500

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Source: Dukascopy Bank SA


On Thursday, the EUR/USD passed below the 1.0500 level. Meanwhile, the rate had revealed that since April 21 the pair has been declining in a narrow channel down pattern.

A continuation of the decline would have no additional technical support, as the pair is below the 50, 100 and 200-hour simple moving averages and the weekly simple pivot points. Due to that reason monitor round exchange rate levels and the lower trend line of the channel down pattern.

However, a recovery of the Euro against the US Dollar might encounter resistance in the upper trend line of the channel up pattern, the weekly S3 simple pivot point at 1.0550 and the 50-hour simple moving average, before approaching the 1.0600 mark.
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Thu, 28 Apr 2022 14:55:36 GMT

GBP/USD decline approaches 1.2400 level

The GBP/USD decline has continued, as the pair has passed below 1.2500 and the weekly S3 simple pivot point at 1.2474. During the mid-day hours of Thursday's trading, the pair confirmed the pivot point as resistance and continued to decline. In the near term future, the pair was expected to look for support in the 1.2400 level and the lower

Thu, 28 Apr 2022 14:13:43 GMT

USD/CAD trades above 1.2850

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