The GBP/USD has found support in the April low level zone at 1.2975/1.2990. By the middle of Wednesday's trading hours, the pair had reached above various technical resistance levels and the 1.3060 mark. If the recovery of the Pound against the US Dollar continues, the currency pair might first find resistance in the 1.3100 mark, before approaching the weekly R1
The drop, which was caused by the ECB last week, eventually ended at the 1.0757 level. Most recently, on Tuesday the level acted as support and caused a recovery, which by the middle of Wednesday's trading had reached above 1.0860. A continuation of the recovery of the Euro against the US Dollar might encounter resistance in the 1.0860 and
On Wednesday morning, the USD/CAD declined below the 1.2600 and 1.2580 level support. Moreover, by the middle of the day, the support of the 1.2560 was being pierced. Next support could be found in the 1.2540 mark and the weekly S1 simple pivot point at 1.2527. A move below 1.2540 and 1.2527 levels might eventually each the 1.2500 mark. Further
At midnight to Wednesday, the GBP/JPY pair encountered resistance at 168.35/168.45. During the first half of the day's trading, the pair was looking for support, as the 166.73/167.09 zone was observed to be acting as one. A move below the 166.73 level might look for support in the 50-hour simple moving average near 166.40 and the weekly R2 simple pivot
On Wednesday, the AUD/USD currency pair reached above the 0.7400 mark and approached technical resistance levels near 0.7420. In the meantime, analysts spotted that the rate has been recovering this week in a channel up pattern. A surge above the 0.7420 level and the upper trend line of the channel up pattern might encounter resistance in the weekly R1 simple pivot
At midnight to Wednesday, the EUR/JPY currency pair hit resistance at 139.60/139.70. During the early hours of the day's trading, the currency rate had retreated to a support zone at 138.30/138.85. In the case that the Euro resumes its surge against the Japanese Yen, the rate might once again encounter resistance at 139.60/139.70. Higher above, take into account the 140.00
Since mid-Tuesday, the price for gold has fluctuated between a support zone at 1,965.70/1,970.00 and resistance at 1,978.50/1,982.00. Meanwhile, the 50-hour simple moving average had caught up to the price. However, the SMA did not provide either support and resistance. If the commodity price reaches above 1,982.00 and continues to surge, it might eventually reach the 2,000.00 mark. Note that round
The resistance of the 126.15/126.30 zone was enough to cause a decline, which eventually passed below the trend line, which connects the pair's April low levels. Namely, the trend lie guided the pair up. On Thursday, the rate was looking for support near the 125.20 level, where various technical levels were located. If the US Dollar starts a recovery
On Wednesday, the GBP/USD eventually broke resistance levels against the US Dollar. By the middle of Thursday's trading hours, the rate had reached and bounced off the resistance of the 1.3150 mark. Afterwards, a decline started, which was heading to the cluster of technical levels at 1.3040/1.3060. The zone was made up of previous high levels, the weekly simple pivot
On April 14, the European Central Bank kept its base rates in the negative zone and revealed that it would end asset purchases only in the third quarter of 2022. The news indicate that the rampant inflation in the European Union is set to continue, and the value of the Euro is going to decline. The news caused a drop
In general, the Bank of Canada hiked interest rates, increasing the demand for the Canadian Dollar in Canada, as all financial transactions using the interest rate now need additional 0.50%. On the USD/CAD charts it resulted in a move below the support zone at 1.2562/1.2566 and the 200-hour simple moving average. On Thursday, the pair was confirming the zone as
The surge of the GBP/JPY currency exchange rate has reached the resistance of the weekly R3 simple pivot point at 164.87. During the first half of Thursday's trading, it could be observed that the currency pair was trading in a 50 base point range around the 164.64 level, which is the March high level. In the case of a continued decline,
On Wednesday, the AUD/USD found support in the 0.7400 mark and started another short term recovery. On Thursday, the pair traded almost flat near the 0.7450 mark. If the rate continues to surge, it would encounter resistance in the zone at 0.7490/0.7495 and the 100-hour simple moving average. Higher above, note the 0.7500 mark and the weekly simple pivot point
Since late Wednesday's trading, the EUR/JPY currency exchange rate was trading near one of the March high levels near 136.84. Meanwhile, on Thursday morning, the 136.50 level was acting as support. If the currency pair surges higher, the 137.00 mark is expected to act as resistance. Higher above, note the weekly R3 simple pivot point at 137.18 and the March high
The recovery of the gold price gradually continues, as on Wednesday the price hit the 1,980.00 mark, which acted as resistance. Meanwhile, it was spotted that the previous resistance zone at 1,965.70/1,970.00 had acted as support. If the commodity price continues to surge, it might eventually reach the 2,000.00 mark. Note that round price levels are set to act as support
The surge of the USD/JPY continues on, as the Japanese Yen continues to extend broad losses. On Wednesday morning, the pair surged and shortly pierced the 126.15 level, where the weekly R2 simple pivot point was located at. Afterwards, a retracement down occurred, which revealed the precise lower border of the support and resistance zone at 125.63/125.76. In the case that
On Wednesday morning, the GBP/USD currency pair shortly reached below the support zone at 1.2980/1.2989. Meanwhile, it appeared that the 1.3020 level and the 50-hour simple moving average acted as resistance. In addition, the 100-hour SMA was approaching from above. In the near term future, the pair might clearly pass below the 1.2980 level and approach the weekly S1 simple
The EUR/USD has passed below the support zone at 1.0840. However, the event did not result in a decline. It was observed throughout Wednesday that the pair was fluctuating in the 1.0815/1.0855 range without a clear future direction. Meanwhile, the 50 and 100-hour simple moving averages were approaching the currency pair from above. In the case of a decline, the
At mid-day on Tuesday, the USD/CAD currency pair plummeted due to the released high inflation data. However, by the end of the day the rate had returned to trade near 1.2650. On Wednesday morning, the pair retraced to the support of the 1.2610/1.2620 zone. In the near term future, a potential surge would have to pass the resistance of the
The retracement down of the GBP/JPY pair ended at the weekly R1 simple pivot point at 162.80. By Wednesday morning, the rate had resumed its surge, and by the middle of the day new high levels were being booked. Namely, the pair reached above the 164.00 mark. A continuation of the Pound against the Japanese Yen might encounter resistance in the
On Tuesday, the AUD/USD currency pair broke the resistance of the 50 and 100-hour simple moving averages and approached the resistance zone at 0.7490/0.7495. By the middle of Wednesday's trading, the rate had declined to the major support zone at 0.7360/0.7425. A decline into the support zone might find additional support in the 0.7400 mark and the weekly S1 simple pivot
The decline of the EUR/JPY currency exchange rate found support in the 100-hour simple moving average near 135.55. By the middle of Wednesday's trading hours, the pair had reached the 136.75 level. A continuation of the surge of the Euro against the Japanese Yen might encounter resistance in the March high levels at 136.84, 137.31 and 137.54. In addition,
At mid-day on Thursday, the yellow metal broke the resistance of the 1,970.00 mark. The event occurred due to the release of the US Consumer Price Index at 12:30 GMT. In the meantime, it was spotted that the rate was respecting the support of the 50-hour simple moving average near 1,950.00. Due to the breaking of the 1,970.00 mark, from a
The USD/JPY was testing a resistance zone at 125.70/125.75, as the US Consumer Price Index data was published and caused a drop below the 125.00 mark. Afterwards, the pair recovered above 125.00. However, the pair encountered resistance in the weekly R1 simple pivot point at 125.22. A move above 125.22, is set to encounter resistance at 125.50, before reaching the 125.70/125.75