Patterns: USA500.IDX/USD, AF.FR/EUR

Dukascopy Bank Team Dukascopy Bank SA

USA 500 index books new high

On December 16, the USA 500 index booked a new all-time high, as it touched the 4,750.00 mark. However, the new high level provided resistance and a retracement to the 4,650.00 level occurred.

In the case that the index continues to decline, it could look for support in the 50-day simple moving average near 4,600.00. Further below the December low levels at 4,500.00 might stop the loss of value.

On the other hand, a resumption of the surge of the index would have to pass the 4,750.00 mark before booking new all-time-high levels.

Air France stock looks for support

The stock price of Air France in December bounced off the resistance of the 50-day simple moving average and approached the 2021 low-level zone at 3.6225/3.3825. Meanwhile, the 50-day simple moving average was located at 4.0640.

In the case that the price passes the support zone, the price could look for support in round price levels as the 3.5000 and the 3.0000 mark, before reaching the 2020 October low level at 2.6340.

Meanwhile, a potential recovery would have to pass the 50-day simple moving average at 4.0640 and the 200-day simple moving average at 4.3420, before reaching the September and December high levels at 4.8000/4.8600.

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Dukascopy Bank Team

Dukascopy Bank SA

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