EUR/USD recovers above 1.0500

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


On Tuesday, the EUR/USD broke the resistance of the April low level zone and the 1.0500 mark. By the middle of the day's trading hours, the pair had reached the 1.0550 level and the weekly R1 simple pivot point at 1.0553.

A move above the 1.0550 level and the weekly R1 simple pivot point at 1.0553 could encounter resistance in the 1.0570/1.0600 zone, which acted as resistance in early May. However, take into account the range was pierced on May 4 during the Fed Rate hike. The following surge bounced off the 1.0640 level.

On the other hand, a decline of the Euro against the US Dollar is expected to look for support in the combination of the April low level zone at 1.0472/1.0492, the 200-hour simple moving average and the 1.0500 mark. Further below, the weekly simple pivot point at 1.0451 could provide support together with the 50 and 100-hour simple moving averages.
Back to articles

Actual Topics

Tue, 17 May 2022 13:19:45 GMT

GBP/USD is back at 1.2500

A broad decline of the US Dollar's value has resulted on the GBP/USD charts in a surge up to the 1.2500 mark. The 1.2500 level appeared to be acting as resistance at mid-day on Tuesday. If the Pound continues to recover against the Dollar, the pair would have to pass the resistance of the 1.2500 level. Higher above, note the

Tue, 17 May 2022 11:54:27 GMT

USD/CAD extends decline

On Tuesday, the USD/CAD currency pair reached below the 1.2850 mark and was heading to the 1.2800 level. A move below 1.2800, could look for support in the weekly S2 simple pivot point at 1.2781, the 1.2750 mark and the May low level zone at 1.2715/1.2725. On the other hand, a recovery is expected to encounter some resistance in the weekly

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.