EUR/USD pierced support zone

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


The EUR/USD pierced the late May support zone above the 1.2160 level on Friday. However, almost immediately the rate returned to trading near the 1.2000 level. On Monday morning, the rate fluctuated in limbo around the round exchange rate level.

In the near term future, the rate could decline, as it faced the resistance of the 100 and 200-hour simple moving averages near 1.2210. A potential decline would once again test the 1.2160 support zone and afterwards the Friday's low level at 1.2133.

On the other hand, the rate could break the resistance of the 100 and 200-hour SMAs and surge. A move up could find resistance in the 1.2240 mark.
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Mon, 31 May 2021 11:08:02 GMT

GBP/USD trades below 1.4200

On Monday, the GBP/USD traded below the 1.4200 mark, which provided resistance. In the meantime, support was being provided by the 100 and 200-hour simple moving averages near 1.4160. In the case of the rate surging, it would once again test the resistance of the 1.4200 mark. A passing of this level would encounter resistance in the zone above the 1.4220

Mon, 31 May 2021 08:00:00 GMT

USD/CAD breakout occurs

The US Dollar declined by 50 pips or 0.41% against the Canadian Dollar on Friday. A breakout occurred through the lower boundary of an ascending channel pattern during Friday's trading session.

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