EUR/USD trades in range

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


As the EUR/USD waited for the US CPI release on Thursday at 12:30 GMT, the pair remained in previous range. The future direction will be set by the macroeconomic data release. High inflation will beat the rate down and low inflation will cause a surge.

A move down by the Euro against the USD lower would look for support first in this week's low level zone at 0.9670/0.9680. An extension of a decline of the currency pair could look for support in the 0.9650 level and the weekly S1 simple pivot point at 0.9643. Further below, take into account the 0.9600 level that might stop a decline, before the September low level zone and the weekly S2 simple pivot point at 0.9549 could keep the EUR/USD up.

However, a recovery of the EUR/USD would have to break the 0.9735/0.9750 zone. Higher above, take into account the 0.9800 level and the 200-hour simple moving average.
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Thu, 13 Oct 2022 10:06:52 GMT

GBP/USD approaches resistance zone

Prior to the US Consumer Price Index release, the GBP/USD approached the resistance zone at 1.1175/1.1180. Future direction depends on the US CPI at 12:30 GMT. A lower than expected inflation reading would result in a surge above 1.1175/1.1180, the 200-hour simple moving average, the 1.1200 mark and the weekly simple pivot point at 1.1215. Higher above, note the 1.1250, 1.1300

Wed, 12 Oct 2022 09:30:48 GMT

Gold remains above support zone

The 1,657.50/1,662.50 zone has acted as support and held the price for gold up. Meanwhile, note that a surge up to the 1,685.00 was caused by fundamental news from the Bank of England. However, on Wednesday morning, the pair was once again at the support zone. A recovery from the support zone is expected to find resistance in the 1.675.00

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