EUR/USD bounces off resistance zone

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


On Friday morning, the EUR/USD bounced off the resistance of the 1.0740/1.0760 zone. The following decline eventually reached the support of the 50-hour simple moving average at 1.0705. The touching of the 50-hour SMA was consistent with the dip, which was caused by the release of the monthly US employment data at 12:30 GMT.

If the Euro recovers against the US Dollar, the pair would have to pass the 1.0740/1.0760 zone, before reaching the 1.0800 mark and the weekly R1 simple pivot point at 1.0813.

On the other hand, a decline of the pair is expected to look for support in the 1.07000 mark and the 50-hour simple moving average, before reaching the weekly simple pivot point at 1.0684.
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Fri, 03 Jun 2022 14:29:55 GMT

GBP/USD finds support in 1.2460/1.2480

The GBP/USD found enough support in the 1.2460/1.2480 zone on Thursday to sharply surge up to the weekly simple pivot point at 1.2588. The pivot point acted as resistance and caused a decline to the 1.2520 level. At mid-day on Friday, the pair was highly volatile between the support of the 50-hour simple moving average near 1.2540 and the resistance

Fri, 03 Jun 2022 09:43:56 GMT

USD/CAD declines below 1.2600

At mid-day on Thursday, the US ADP Non-farm Employment data release caused a sell off of the US Dollar. On the USD/CAD the event resulted in a decline below the 1.2600 mark. On Friday morning, the rate fluctuated almost flat near the 1.2570 level. If the pair resumes its decline, the USD/CAD could look for support in the 1.2550 mark.

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