• Latest
  • Trending
  • All
Pound corrects higher due to dollar weakness

Dollar erases some gains while staying broadly resilient

March 24, 2021 07:48
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 » Dollar erases some gains while staying broadly resilient

Dollar erases some gains while staying broadly resilient

by Joseph Deen
March 24, 2021 07:48
in Technical analysis
0
Pound corrects higher due to dollar weakness

The safe-haven rally sent the USD index to fresh four-month highs

EURUSD

EURUSD slipped to 1.1812 earlier in the day as the safe-haven rally sent the USD index to fresh four-month highs. In recent trading, the euro managed to bounce from lows but failed to regain the 20-hour SMA and has settled around 1.1830, down 0.17% on the day. Adding to the bearish technical picture, the pair is now below the key 200-day SMA for the first time since May 2020. On the four-hour timeframes, the RSI is flirting with the critical 30 figure, suggesting the indicator is about to enter the oversold conditions. Now, the immediate upside target arrives at 1.1850 where the mentioned 200-SMA lies. a daily close below this level would be a confirmation of the latest breakdown, with the 1.1800 staying in market focus.

GBPUSD

The cable dipped to early-February lows on Wednesday, continuing to give up positions amid broad-based strength surrounding the greenback. The pair fouls support in the 1.3675 area before bouncing marginally. Still, the prices stayed well below intraday highs seen at 1.3757 earlier in the day. Now, the pound needs to settle above 1.3700 in order to avoid another sell-off that would pave the way towards the ascending 100-DMA, today at 1.3605. The last time the pair touched this moving average was in early-November. It looks like this level could act as support and trigger a decent recovery on the condition that the upside pressure surrounding the dollar eases eventually.

USDJPY

USDJPY managed to hold above the 108.40 area during yesterday’s decline and turned marginally positive on Wednesday. Still, the dollar lacks upside impetus to retarget the 109.00 figure as the safe-haven yen demand caps the bullish potential for the pair. On the other hand, the fact that the prices keep holding above the ascending 20-DMA suggests the greenback could stay afloat and regain a firmer bullish momentum eventually. On the downside, a break below 108.40 would pave the way towards the mentioned moving average, today at 108.18. In this scenario, the short-term technical picture could deteriorate further. However, the path of least resistance remains to the upside for the time being.

XAUUSD

The bullion stays relatively steady on Wednesday, holding above last week’s lows seen around $1,720. The XAUUSD pair dipped below $1,724 initially before bouncing marginally and was last seen trading in the $1,733 area. Of note, the yellow metal derived support from the 20-DMA during another bearish attempt. As long as the prices stay above this moving average, downside risks are limited. However, the bullion will likely struggle to see more robust gains in the short-term amid the persisting dollar demand. On the four-hour charts, gold prices were flirting with the 20-SMA at the time of writing.

NZDUSD

The Kiwi plunged heavily yesterday, extending losses to four-month lows around 0.6965 earlier on Wednesday. In recent trading, the pair came off lows to turn flat on the day, staying below the 0.7000 handle. Furthermore, the New Zealand dollar is now well below the key daily moving averages while the RSI is yet to enter the oversold territory, suggesting the pair could stay under pressure, or even dip to fresh multi-week lows in the short term. On the upside, the immediate resistance now arrives at 0.7010, followed by the 0.7030 area. On the hourly charts, NZDUSD was last seen flirting with the descending 20-SMA.

Tags: EURUSDGBPUSDNZDUSDUSDJPYXAUUSD
Share2Tweet2
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

Investors cautiously digest economic data
Fundamental analysis

Investors cautiously digest economic data

September 27, 2023 08:00
11
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

Leave Your Opinion Cancel reply

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

Recommended

The Eurozone service PMI dropped to a record low of 28.4

Investor sentiment looks mixed at the start of the week

August 10, 2020 07:47
15

Fed’s Bullard says ‘biggest growth quarter of all time’ will lift inflation

September 18, 2020 14:31
10
Stocks extend the rally, oil steady after OPEC+ decision

Stocks extend the rally, oil steady after OPEC+ decision

April 2, 2021 04:19
15

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