USD/CAD trades sideways after recovery

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


From a technical perspective, the 1.2718/1.2724 zone provided enough support for a surge up to the 1.2870 mark. The 1.2860/1.2870 zone acted as resistance and forced the pair into a retracement to 1.2813/1.2816. At mid-day on Friday, the pair had bounced off the combination of the 1.2813/1.2816 zone and the 200-hour simple moving average.

Note that the bounce off was consistent with the release of the US and Canadian monthly employment data. Namely, there were more new employed people in the US than expected and a lot less than forecast for Canada. Due to that reason the USD surged as the Canadian Dollar declined.

If the surge manages to break the resistance of the 1.2860/1.2870 zone, the rate might encounter resistance in the April and May high levels at 1.2880 and 1.2913. In addition, take into account the weekly R1 simple pivot point at 1.2927.

Meanwhile, a potential decline would once again look for support in the 1.2813/1.2816 zone, before approaching the weekly simple pivot point at 1.2806, the 1.2800 mark and the 50-hour simple moving average.
Back to articles

Actual Topics

Fri, 06 May 2022 18:02:47 GMT

EUR/USD finds resistance in 1.0600

During Friday's trading, the EUR/USD found support in the zone at 1.0472/1.0492 and recovered to the 1.0600 mark, which started to act as resistance. During the late hours of the day's trading, the exchange rate was trading between 1.0600 and the support of the 1.0550 mark. If the EUR/USD declines below 1.0550, the rate might once again look for support

Fri, 06 May 2022 12:31:43 GMT

GBP/JPY trades sideways after declining

On Thursday, at 11:00 GMT, the Bank of England crashed the value of the Pound by revealing that the bank expects an incoming recession and inflation above 10.00%. The GBP/JPY plummeted down from the 163.00 level to 160.33. Since the event, the GBP had recovered and revealed a resistance zone at 161.50/161.60 and support at 160.30/160.40. At mid-day on Friday,

Subscribe to "Fundamental Analysis" feed

Subscrever
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre as opções binárias do Dukascopy Bank / Plataforma de negociação Forex, SWFX e outras informações relacionadas com Trading,
ligue-nos ou faça-nos um pedido para ser contactado.
Para saber mais sobre a plataforma de negociação Dukascopy Bank CFD / Forex, SWFX e outras informações relacionadas com negociação,
por favor entre em contato conosco ou faça um pedido de retorno de chamada.
Para saber mais sobre a plataforma de Trading / Trading de Crypto/ CFD / SWFX e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para saber mais sobre o programa de Introdutor de Negócios e outras informações relacionadas à negociação,
ligue-nos ou faça-nos uma pedido para ser contactado.
Para obter mais informações sobre uma potencial cooperação,
ligue-nos ou faça-nos um pedido para ser contactado.