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

Greenback under renewed selling pressure

April 28, 2020 07:36
Investors cautiously digest economic data

Investors cautiously digest economic data

September 27, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar looks unstoppable

September 26, 2023 07:00
Investors stay depressed after heavy losses

Investors stay depressed after heavy losses

September 25, 2023 07:00
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
  • Terms & Сonditions
  • Contact
Thursday, September 28, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors cautiously digest economic data

    Investors cautiously digest economic data

    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investors cautiously digest economic data

    Investors cautiously digest economic data

    Investors stay depressed after heavy losses

    Investors stay depressed after heavy losses

    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

  • 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

Dollar looks unstoppable

September 26, 2023 07:00
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13

Leave Your Opinion Cancel reply

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

Recommended

Investors confused by the message from the Fed, dollar on the defensive

Investors confused by the message from the Fed, dollar on the defensive

August 28, 2020 04:57
14
Trade of the Day: GBP/JPY

Greenback looks directionless in mixed trading action

January 14, 2021 06:34
18
Risk sentiment turns sour again, oil at two-month lows

Risk sentiment turns sour again, oil at two-month lows

September 8, 2020 05:11
13

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
124
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 © 2022 FWNews

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

Copyright © 2022 FWNews