Daily Candle Chart
On the daily candle chart it can be spotted that the exchange rate respected the resistance of the 200-day SMA near 1.4700.
In the meantime, it was spotted that the rate was being approached by the resistance of the 55-day SMA near, which on May 5th was located at the 1.5000 mark.
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Dukascopy Analytics has visualized the data by marking the buy and sell order levels on the chart. Below, one can observe the market orders on May 5.
The most close by cluster of buy orders was at the 1.2900 level, where 500 coins could be bought.
In the meantime, there were orders to buy 2775 Dukascoin near the 1.2600 mark. Meanwhile, there were orders to buy at least 500 coins at 1.1500, 1.1000 and 1.0500.
Afterwards, note that starting from 1.0000 there are orders to buy up at least 2000 coins at each price level.
In regards to sell orders, there were clusters of more than 500 coins to be sold near 1.3800 and 1.4700.
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In the case the rate manages to pass the resistance of the 1.3800 level, it could once again test the 1.4700 mark. However, the passing of this level is unlikely, as it would consist of sell orders, two daily SMAs and the weekly simple pivot point.
On the other hand, sideways trading could continue between the 1.2900 level's support and the 1.3800 level. However, since April 22, the rate has been supported and traded above the 1.3325 mark.