EUR/USD is highly volatile

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Source: Dukascopy Bank SA


The EUR/USD currency pair has been highly volatile, as it has been reacting to major US fundamental events throughout the week. Namely, the Fed rate hike and monetary policy announcement together with the US GDP have been creating major moves. In general, the pair has been observed to be fluctuating between the support of the 1.0097/1.0115 zone and resistance at 1.0255/1.0258.

At mid-day on Friday, the pair was located in the middle of the range near the 1.0200 mark. A potential decline would look for support in the 1.0097/1.0115 zone, before approaching parity and the weekly S2 simple pivot point at 0.9990.

On the other hand, a recovery of the Euro against the US Dollar would have to pass the 1.0255/1.0258 zone, before approaching the weekly R1 simple pivot point and the 1.0300 mark.
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Fri, 29 Jul 2022 13:07:36 GMT

GBP/USD fails to reach 1.2250

As the GBP/USD was approaching the 1.2250 mark on Friday, it suddenly started a sharp decline. By the middle of the day's European trading hours, the pair had reached the 1.2100 level. A continuation of the decline of the 1.2100 mark might look for support in the 100-hour simple moving average near 1.2095 and the weekly R1 simple pivot point at

Thu, 28 Jul 2022 08:57:21 GMT

USD/CAD drops below 1.2800

The US Federal Reserve rate hike and subsequent comments about easier policy has caused a decline of the USD/CAD rate back to June levels. Moreover, the vital support of the 1.2800 mark was passed on Thursday morning. An extension of the ongoing decline of the US Dollar against the Canadian Dollar might look for support in the 1.2750 and 1.2700

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