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

Dollar bulls back in the game, USDJPY extends gains for the fifth consecutive day

June 30, 2020 10:44
Equities struggle amid economic and China-related concerns

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
Dollar lacks upside momentum due to lower Treasury yields

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
Stocks gain, dollar eases ahead of job market data

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off the pressure

December 26, 2022 05:13
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
Risk demand reemerges cautiously, but caution remains in place

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
Dollar lacks upside momentum due to lower Treasury yields

US dollar resists selling pressure

December 20, 2022 10:44
Market sentiment dented by recession fears

Market sentiment dented by recession fears

December 19, 2022 02:53
Dollar lacks upside momentum due to lower Treasury yields

Greenback stays on the defensive nearly across the board

November 16, 2022 05:34
Investor sentiment improves, but gains limited

Investor sentiment improves, but gains limited

November 15, 2022 05:46
Dollar lacks upside momentum due to lower Treasury yields

Dollar licks wounds after plunge

November 14, 2022 05:05
  • Terms & Сonditions
  • Contact
Tuesday, March 28, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equities struggle amid economic and China-related concerns

    Equities struggle amid economic and China-related concerns

    Stocks gain, dollar eases ahead of job market data

    Dollar pressured by positive risk sentiment in thin markets

    Investors spooked by strong US data

    Investors spooked by strong US data

    Risk demand reemerges cautiously, but caution remains in place

    Risk demand reemerges cautiously, but caution remains in place

    Market sentiment dented by recession fears

    Market sentiment dented by recession fears

    Investor sentiment improves, but gains limited

    Investor sentiment improves, but gains limited

    Risk sentiment keeps deteriorating, dollar climbs

    Stocks celebrate US inflation, dollar slumps

    Virus, US-China tensions hit global markets

    Market sentiment turns cautious amid events in the US

    Investors look indecisive ahead of another volatile week

    Investors look indecisive ahead of another volatile week

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

Home » Dollar bulls back in the game, USDJPY extends gains for the fifth consecutive day

Dollar bulls back in the game, USDJPY extends gains for the fifth consecutive day

GBPUSD stays close to one-month lows, struggling to regain upside momentum

by Joseph Deen
June 30, 2020 10:44
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
On Monday, the euro made bullish attempts marginally below the 1.13 barrier but failed to preserve the upside momentum and has been correction lower since its rejection from local highs. On Tuesday, the pair briefly dipped below 1.12 but has trimmed intraday losses since then, having settled above this key level. Still, the daily RSI is nearly flat, suggesting the common currency may switch into a recovery mode if the mentioned handle withstands the bearish pressure. On the hourly charts, the technical picture is gradually improving, also pointing to the receding bearish risks. 

GBPUSD
GBPUSD remains on the defensive since its rejection from the 1.2540 area last week. Earlier in the day, the pair neared yesterday’s one-month lows below 1.23 but managed to reverse losses and turned flat around this level. Despite a bounce, cable remains vulnerable to further losses at least in the short term, especially as the prices have been below the 50-DMA since the start of the week. On the positive side, the daily RSI is turning flat, suggesting the selling pressure may be easing now. Anyway, a daily close above 1.2340 is needed for a confirmation of a local reversal. Otherwise, the pound could register fresh four-week lows in the days to come. 

USDJPY
USDJPY extends gains for the fifth consecutive day on Tuesday. The pair has exceeded the 20-DMA that turned into support, suggesting the bullishness could persist in the short term. On the other hand, the dollar is nearing the 100-DMA that could act as a stronger resistance marginally below 108.00 and trigger a downside correction. By the way, the daily RSI continues to point slightly upwards and remains far from the overbought levels which in turn signals that the greenback could retain its bullish bias so far. On the downside, the mentioned 20-DMA now acts as immediate support. 

NZDUSD 
The Kiwi dipped to one-week lows earlier in the day but has turned into recovery mode since then and regained the 0.64 handle in recent trading. Still, the pair remains in the red on the daily charts, with trading volumes being muted since late last week. A daily close above the mentioned level doesn’t guarantee a better short-term technical picture as the key immediate hurdle for bulls comes around 0.6450. As long as the pair remains below this barrier, downside risks persist. On the four-hour timeframes, the prices are still capped by the 50-SMA for nearly a week already, confirming a limited nature of the upside potential for the time being.

USDCAD
USDCAD turned marginally higher on Tuesday after a modest retreat seen yesterday. In general, the pair remains stuck in a tightening range these days, staying between the 100- and 200-DMAs since June 12. It looks like the dollar will stay in a consolidative mode in the near term unless a strong catalyst pushes the prices in either direction. On the upside, the pair needs to make a decisive break above the 1.37 immediate resistance to retarget the mentioned 100-DMA that now arrives just below 1.38. On the weekly timeframes, USDCAD remains flat but has room for further recovery from the 1.33 level seen earlier this month. 

Tags: EURUSDGBPUSDNZDUSDUSDCADUSDJPY
Share4Tweet3
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

Equities struggle amid economic and China-related concerns
Fundamental analysis

Equities struggle amid economic and China-related concerns

December 29, 2022 08:55
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Currencies stuck in ranges as New Year holiday looms

December 28, 2022 07:01
12
Stocks gain, dollar eases ahead of job market data
Fundamental analysis

Dollar pressured by positive risk sentiment in thin markets

December 27, 2022 04:50
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off the pressure

December 26, 2022 05:13
12
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar back under pressure after short-lived relief

December 22, 2022 05:17
16
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists selling pressure

December 20, 2022 10:44
14

Leave Your Opinion Cancel reply

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

Recommended

Alan Greenspan lists inflation and the budget deficit as his biggest concerns

September 10, 2020 14:32
10
A slow start to the week in FX markets

Dollar is back on the offensive across the board

November 4, 2021 11:22
14
Sentiment turns sour again but the greenback keeps bleeding

Sentiment turns sour again but the greenback keeps bleeding

October 21, 2020 05:30
14

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 © 2022 FWNews

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

Copyright © 2022 FWNews