EUR/USD plummets to 20 year lows

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


The plummeting of the EUR/USD on Tuesday was attributed and most likely actually was fueled by various fundamentals like strikes, protests and bad economic data. Eventually, the rate's drop appeared to have stopped near the 1.0250 mark, around which the rate began to trade sideways.

However, on Wednesday morning, a new low was touched, as the pair reached below 1.0230.

If the Euro continues to decline against the US Dollar, the rate could look for support in the weekly S2 simple pivot point at 1.0220. Further below, note the 1.0200, 1.0150 and 1.0100 levels.

Meanwhile, a potential recovery of the Euro against the US Dollar might is expected to a recently revealed support and resistance zone at 1.0270/1.0280. Higher above, note the 1.0300 mark, before the rate reaches the weekly S1 simple pivot point at 1.0323.
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Wed, 06 Jul 2022 10:20:30 GMT

GBP/USD respects resistance of 1.2000

The decline of the Pound against the US Dollar eventually reached the 1.1900 level, which acted as support. During the first half of Wednesday's trading, the pair retraced back up to the resistance zone of Friday's low levels at 1.1975/1.1995. If the pair bounces off the resistance of the 1.1975/1995 zone, a potential decline would have to pass below the 1.1900

Tue, 05 Jul 2022 08:55:31 GMT

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