It’s time for another Dukascopy Support and Resistance Level Report. Here’s how our in-house model tests out this Wednesday.
First up is the Euro/Dollar, which is trading in the range limited by R1 of 1 0730 and S1 of 1 0690.
The lowest resistance line has found 3 matches, and Bollinger Upper Band is among the 2 studies for R2. R3 is a psychological level with 2 models. Standing near a 20 day moving average, S1 sees 6 confirmations. S2 is backed up by Price Channel Indicator Lower Line, a 12 month low and 4 other studies, whereas S3 has found 3 matches, including a 4 year low and Bollinger Lower Band.
The Cable has seen a decline, which leaves it between R1 of 1 2680 and S1 of 1 2650.
Bollinger Upper Band is among the 2 studies for R2. The lowest resistance line sees 3 confirmations, and a 100 day moving average is the only match for R3. S3 is a 50 day moving average with 6 studies. S2 is supported by a 20 day moving average, a psychological level and 3 other models, and the highest support line has found 3 matches.
Dollar/Yen has the closest levels of 114 40 in resistance and 113 90 in support.
R1 is the most confirmed resistance line with 6 studies. R2 is backed up by Price Channel Indicator Upper Line, a 6 month high and 3 other models, and Bollinger Upper Band is the only match for R3. S1 leads in support with 8 studies, and S2 is a 20 day moving average with 2 matches. S3 counts a 50 day moving average as its only model.
And Dollar/Swiss Franc stands below R1 of 1 0120 and above S1 of 1 0070.
R1 leads in resistance with 11 models. R2 is confirmed up by Price Channel Indicator Upper Line, a 6 month high and 4 other studies, and R3 is a 4 year high with 2 matches. Standing near a 20 day moving average, S1 sees 8 confirmations, and S2 is a major psychological level with 3 studies. Bollinger Lower Band is the one match for S3.
I’m _____ and this was the Support and Resistance Level Report for Wednesday. Check back in tomorrow for the next overview. Goodbye.

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