EUR/USD continues to recover

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


The EUR/USD currency exchange rate has extended its recovery. On Friday, the rate was heading to the upper trend line of the channel down pattern. However, it was slowed down by the 200-hour simple moving average near 1.0620.

A move above 1.0620 is expected to face the resistance of the upper trend line of the channel down pattern. In the case of the trend line failing to keep the EUR/USD down, the rate could reach for the weekly simple pivot point at 1.0665.

However, in the case of a resumption of the broader decline, the pair is set to look for support in the 1.0600 mark, the weekly S1 at 1.0592, the 100-hour SMA near 1.0565. If all of these levels fail to act as support, the combination of the weekly S2 simple pivot point at 1.0543, the 50-hour simple moving average and the 1.0550 mark could stop a decline.
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Actual Topics

Fri, 29 Sep 2023 09:46:55 GMT

GBP/USD faces 200-hour SMA

The recovery of the Pound against the US Dollar has reached the resistance of the 200-hour simple moving average near 1.2250. A move above the 200-hour simple moving average would result in the currency pair testing the resistance of the upper trend line of the channel down pattern. If the pattern is broken, the rate should approach the combination

Thu, 28 Sep 2023 16:03:35 GMT

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