• Latest
  • Trending
  • All
Euro struggles below three-month highs, yen demand persists

Greenback under renewed selling pressure

April 28, 2020 07:36
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
Dollar lacks upside momentum due to lower Treasury yields

Major currencies struggle below key SMAs

May 19, 2022 06:02
Geopolitical tensions ease but risks persist

Global stock rout continues on growth fears

May 19, 2022 05:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
Dollar lacks upside momentum due to lower Treasury yields

Dollar off tops but resilient

May 16, 2022 05:44
Stocks mostly lower despite upbeat economic data

Markets failed to extend the bounce, back under pressure

May 16, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

Dollar refrains from a deeper retreat

May 13, 2022 06:04
Dollar lacks upside momentum due to lower Treasury yields

The greenback seems unstoppable

May 12, 2022 06:34
  • Terms & Сonditions
  • Contact
Sunday, May 22, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

    Investors stay nervous as tensions escalate

    Markets look for rebound after a major sell off

    Stock markets rebound on strong corporate earnings

    Recession worries keep markets on the defensive

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Greenback under renewed selling pressure

Greenback under renewed selling pressure

USDJPY dipped to March 17 lows, suffering losses for the fourth day in a row on Tuesday

by Joseph Deen
April 28, 2020 07:36
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
EURUSD received support marginally above the 1.08 handle and staged a local reversal. The pair jumped to one-week highs around 1.0885 and is clinging to the upper end of the extended short-term range. Now, as the common currency is very close to the 1.09 handle, some traders may proceed to profit-taking and send the pair lower from the local tops. Moreover, the euro may need additional dollar weakness to make a decisive break above this psychological barrier. Should the European currency receive this impetus, the next resistance will arrive at 1.0950, where the 50-DMA lies. 

GBPUSD
GBPUSD has exceeded the 50-DMA for the first time since mid-April and is now challenging the 1.25 handle. Should the pair confirm a breakout on a daily closing basis, it will be a sign of a potential bullish continuation. Otherwise, profit-taking will likely take place in the short term. Of note, the daily RSI is pointing upwards but the bias is too modest and gradual to bet on sustainable gains from here. On the downside, the initial support now arrives at 1.2460, where the mentioned moving average lies. In the four-hour timeframes, the technical picture has improved substantially but the cable is yet to confirm a break above the 100- and 50-SMAs at 1.2415 and 1.24, respectively. 

USDJPY
USDJPY dipped to March 17 lows, suffering losses for the fourth day in a row on Tuesday. The pair’s downside movement has accelerated after a break below the 107.00 handle. Should the dollar fail to cling to the current levels, the 106.00 figure may come back into market focus while on the upside, the 107.00 level now acts as resistance. The technical picture is looking even more bearish now as the pair remains below the key moving averages and has got back under an important intermediate support zone. The RSI in short-term charts is pointing south, suggesting the current retreat may continue for some time. 

USDCHF 
USDCHF climbed to 0.98 earlier in the day but was rejected from local highs and staged a strong reversal in the intraday charts. As a result, the pair slipped to 0.9725 and is no threatening the 0.97 figure as the selling pressure surrounding the greenback persists. Once below the 0.9710 intermediate support, the pair may target the 50-DMA around 0.9655. On the upside, the key resistance is still represented by the 200-DMA around 0.98. As long as the prices remain below this level, bearish risks persist. On the weekly timeframes, the upside potential remains limited by the 50-SMA for more than a month already. 

USDCAD
USDCAD continues its retreat from the 1.4260 area on Tuesday. The pair has dipped below the 1.40 and registered mid-April lows around 1.3940. Should this region give up, the 1.39 level will come into bears’ focus. Despite the recent decline, the general tone in the pair remains neutral as long as prices stay above 100- and 200-DMAs at 1.3515 and 1.3370, respectively. In the four-hour timeframes, however, the RSI is pointing south, suggesting the downside pressure may persist in the near term. The immediate important resistance now arrives at 1.40.

Tags: EURUSDGBPUSDUSDCADUSDCHFUSDJPY
Share3Tweet2
ADVERTISEMENT
Joseph Deen

Joseph Deen

Joseph is a technical analysis expert. A graduate of NYU, Joseph has a master's degree in mathematics. On FWNews, Joseph provides exchange rates reviews and forecasts.

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Major currencies struggle below key SMAs

May 19, 2022 06:02
12
Geopolitical tensions ease but risks persist
Fundamental analysis

Global stock rout continues on growth fears

May 19, 2022 05:00
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
15
Chinese data spooks investors, sentiment turns sour
Fundamental analysis

Stock markets turn directionless after a bounce

May 18, 2022 05:08
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
16

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Pound corrects higher due to dollar weakness

Greenback creeps higher but looks fragile

May 12, 2021 08:45
17
Dollar lacks upside momentum due to lower Treasury yields

Greenback is slightly lower but still strong

December 8, 2021 02:21
10

5 things to know before the stock market opens Tuesday

November 24, 2020 01:43
10

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews