EUR/USD drops and reaches 1.0900

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


Due to an ongoing run to safety, the markets have rallied the US Dollar to levels not seen since 2020. On the EUR/USD charts it has resulted in a drop below the 1.1000 mark. Moreover, the round level did not even act as support, as by the start of Friday's US trading hours, the rate had reached the 1.0900 level.

Meanwhile, by zooming out to the daily candle chart, one can spot that the rate has been in a channel down pattern since the start of 2021. The lower trend line of the pattern crosses the 1.0900 mark on March 4.

If the pair properly declines below the 1.0900 level, the EUR/USD might look for support in the 1.0850 mark. Afterwards, the 1.0800 mark might act as support, before approaching the 2020 low level zone at 1.0730/1.0780.

However, a recovery of the pair is expected to ignore the weekly S2 simple pivot point at 1.0942, as it failed to act as support on Friday. Higher above, the 1.1000 mark might act as resistance.
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Fri, 04 Mar 2022 15:52:54 GMT

GBP/USD sharp decline approaches 1.3200 level

Due to an ongoing run to safety, the value of the US Dollar has surged. As a result of the event, the GBP/USD currency exchange rate has declined. By 16:00 GMT on Friday, the pair was approaching the 1.3200 level. If the Pound declines against the US Dollar below the 1.3200 mark, the rate might look for support in the December

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The USD/CAD found support in the 1.2600 during the first part of Thursday's trading. By the middle of Friday, the currency pair was almost 200 base points higher, as the rate was approaching the 1.2800 mark. A move above the 1.2800 mark might find resistance at 1.2850 and the weekly R1 simple pivot point at 1.2863, before approaching the February high

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