EUR/USD surges to 1.0600

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Source: Dukascopy Bank SA


The EUR/USD managed to surge through the resistance of the 1.0500 mark and eventually reached the combined resistance of the 1.0600 mark and the weekly simple pivot point at 1.0598. The resistance held and by the middle of Friday's trading, the rate had retraced down and found support in the 1.0500 mark.

If the pair recovers from the 1.0500 mark, the 200-hour simple moving average and the 1.0550 level might act as resistance, before another test of the 1.0600 level occurs.

On the other hand, a decline of the Euro against the US Dollar below 1.0500 might encounter support in the various technical levels spread out from 1.0400 up to 1.0475. However, these levels were being ignored during this week.
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Fri, 17 Jun 2022 11:03:38 GMT

GBP/USD encounters resistance at 1.2400

The surge of the GBP/USD eventually found resistance in the 1.2400 mark and the weekly simple pivot point. The resistance was strong enough to cause a decline to the 1.2250 level, which acted as support during the early hours of Friday's trading. If the Pound resumes its recovery against the US Dollar, note the 1.2400 mark and the resistance zone around

Thu, 16 Jun 2022 15:14:14 GMT

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