Good morning, traders, this is the Dukascopy Support and Resistance Level Report for Wednesday.
Euro/Dollar has lost some ground, and it now has R1 of 1 0570 and S1 of 1 0530.
R2 is well confirmed with 15 studies, including a 50 day moving average, and the lowest resistance line has found 8 matches. R3 is a 100 day moving average with 2 models. S1 is backed up by Bollinger Lower Band, Price Channel Indicator Lower Line and 4 other studies. S3 is a 4 year low with 6 matches, and S2 counts a psychological level among its 2 confirmations.
The Cable, on the other hand, is up, and it stands between R1 of 1 2510 and S1 of 1 2470.
R1 is backed up by a psychological level, a 20 day moving average and 9 other models, whereas the other two resistance lines have found 2 matches each, including a 150 day moving average and Bollinger Upper Band for R2 and Price Channel Indicator Upper Line for R3. S1 leads in support with 14 models. S2 is confirmed by a 100 day moving average, Bollinger Lower Band and 2 other studies, and Price Channel Indicator Lower Line is among the 2 models for S3.
Dollar/Yen is trading in the range limited by R1 of 113 70 and S1 of 113 40.
The lowest resistance line sees 9 confirmations. R2 is backed up by Bollinger Upper Band, a psychological level, a 50 day moving average and another model, and Price Channel Indicator Upper Line is among the 2 studies for R3. Standing near a 20 day moving average, S1 is well confirmed with 11 models. S2 is supported by Bollinger Lower Band and Price Channel Indicator Lower Line, and a 100 day moving average is the only match for S3.
And Dollar/Swiss Franc has the closest levels of 1 0110 in resistance and 1 0070 in support.
Standing at a 4 year high, R2 sees 7 confirmations. R1 is confirmed by Price Channel Indicator Line, Bollinger Upper Band, a 50 day moving average and 3 other models, and a psychological level is the only match for R3. S2 is the most confirmed support line with 17 models, including a 100 day moving average, and the highest support line has found 7 matches. S3 is a 150 day moving average with 2 studies.
I’m Kiays Khalil and that’s how our in-house model tests out today. Check back in tomorrow for the next overview. Goodbye.

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