USD/CAD recovers after Fed hike

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


The USD/CAD reacted to the Fed Press conference with a decline down to the 1.2862 level. At midnight to Thursday, the level was approached by the support of the 100-hour simple moving average. The SMA was enough to cause a recovery. By the middle of the day's Euroepan trading hours, the pair had recovered to the 1.2950 mark.

If the rate reaches above the 1.2950 level, the weekly R2 simple pivot point might act as resistance at 1.2996. The pivot point acted as resistance to the Federal Reserve caused volatility on Wednesday. In addition, note that the 1.3000 and 1.3050 levels could stop a potential surge.

On the other hand, a decline of the US Dollar against the Canadian currency might look for support first in the combination of the 1.2900 level, the weekly R1 simple pivot point at 1.2885 and the 100-hour simple moving average. Afterwards, the 1.2850, 1.2800 and 1.2750 levels could act as support. However, there is no technical support as low as 1.2730 where the 200-hour simple moving average is located at.
Back to articles

Actual Topics

Thu, 16 Jun 2022 14:28:45 GMT

EUR/USD no longer has support

Prior to the Federal Reserve hiking interest rates, the EUR/USD reached below the 1.0400 mark. The press conference held by the Fed caused a surge, as Jerome Powell made initially reassuring comments. However, by the middle of Thursday's trading, the pair was once again below the 1.0400 level. Moreover, the pair was ignoring the support and resistance of the

Thu, 16 Jun 2022 10:36:21 GMT

GBP/JPY declines below 161.00

On Thursday, the GBP/JPY currency pair declined. The decline started after a failed approaching of the resistance of the 100-hour simple moving average and the 164.00 mark. By the middle of Thursday's trading, the pair had declined and shortly reached below the 161.00 mark. In the meantime, the markets were expecting the Bank of England rate hike at 12:00 GMT.

Subscribe to "Fundamental Analysis" feed

Suscribir
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.
Para obtener más información sobre las opciones binarias de Dukascopy Bank / La plataforma de operaciones de Forex, SWFX y otra información relacionada con el Trading, por favor llámenos o solicite una devolución de llamada.
Para conocer más sobre la plataforma de Trading de CFD y Forex de Dukascopy Bank, SWFX y otras informaciones relacionadas con el Trading,
llámenos o haga una solicitud de devolución de llamada.
Para obtener más información acerca de la plataforma de operaciones Crypto Trading / CFD / Forex, SWFX y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre Business Introducer y otra información relacionada con el comercio,
llámenos o realice una solicitud de devolución de llamada.
Para obtener más información sobre la posible cooperación, por favor llámenos o haga una solicitud de devolución de llamada.