USD/CAD reacts to US Fed

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


The USD/CAD surged on Wednesday at 19:00 GMT due to the US FOMC Meeting Minutes revealing that the US monetary policy makers were considering rate hikes. The fundamental surge eventually ended at the 1.2815 level. A retracement down followed. By the middle of Thursday's trading hours, the exchange rate had reached the 50-hour simple moving average near 1.2735.

A move below the 50-hour simple moving average could find support in the support trend line that connects the rate's low levels since December 31. Below the trend line, the weekly simple pivot point at 1.2705 might act as support. In addition, the 1.2700 mark has been acting as support.

On the other hand, a surge of the US Dollar against the Canadian Dollar might find resistance in the 200-hour simple moving average near the 1.2750 mark. Above the 1.2750 mark, note the 1.7265/1.7280 zone, the weekly R1 simple pivot point at 1.2789 and the 1.2800 mark.
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Thu, 06 Jan 2022 18:35:46 GMT

EUR/USD ignores technical levels

The EUR/USD was testing the resistance of the weekly simple pivot point at 1.1345, as the US Fed Meeting Minutes were released. A strengthening of the USD followed, which beat down the EUR/USD. The decline eventually stopped at the 1.1285 level, on Thursday morning. However, since then the rate has been looking for direction, as it ignores technical levels

Thu, 06 Jan 2022 16:14:46 GMT

GBP/JPY finds resistance in pivot point

On Wednesday, the GBP/JPY found resistance in the weekly R2 simple pivot point at 157.80. The following decline resulted in the rate reaching below the 156.50 mark. During the second half of Thursday's trading, the rate was fluctuating between the 156.50 and 157.00 levels. In the case of a decline, the pair is expected to look for minor support in the

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