• Latest
  • Trending
  • All
A slow start to the week in FX markets

Dollar trims losses but stays broadly weak

April 20, 2021 06:51
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
Monday, January 30, 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 trims losses but stays broadly weak

Dollar trims losses but stays broadly weak

by Joseph Deen
April 20, 2021 06:51
in Technical analysis
0
A slow start to the week in FX markets

The key hurdle for euro bulls now arrives at 1.2100, but the pair may lack the upside momentum to challenge this barrier in the near term

EURUSD

EURUSD edged to the 1.2080 area earlier in the day before retreating to the 100-DMA in recent trading. The key hurdle for euro bulls now arrives at 1.2100, but the pair may lack the upside momentum to challenge this barrier in the near term. Of note, as risk sentiment has deteriorated somehow, the safe-haven greenback trims losses during the European hours. On the four-hour charts, the RSI has reversed south in the overbought territory, suggesting the pair could get back below the mentioned moving average by the end of the day. In a wider picture, the upside potential could be capped by the 20-week moving average that arrives just at the mentioned highs.

GBPUSD

GBPUSD turned marginally lower on the day following six bullish sessions in a row. The pair peaked at the 1.4000 figure earlier in the day before retreating. Of note, this barrier capped bullish tone one month ago, suggesting the cable could struggle to overcome this resistance once again. In this scenario, immediate support should be expected at 1.3920. On the hourly charts, the cable has dipped below the 20-SMA in recent trading, adding to a more downbeat technical picture in the short term. Now, the pair needs to climb back to the 1.4000 figure in order to regain a bullish tone and extend gains in the coming days.

USDJPY

USDJPY briefly dipped below 108.00 during the Asian session but managed to stage a bounce eventually, entering green territory following six days of losses. The dollar was last seen changing hands at 108.36, up 0.20% on the day. Despite the latest bounce, the overall technical picture remains bearish, especially as the pair stays below the 20-DMA that arrives around 109.50 today. On the downside, the prices need to hold above the 108.00 figure in order to avoid fresh losses. On the four-hour timeframes, the dollar is being capped by the descending 20-SMA while the RSI reversed lower again, suggesting the recovery potential is limited in the immediate term.

NZDUSD

The Kiwi rose to 0.7230 for the first time in a month earlier on Tuesday. However, the pair failed to extend the rally and trimmed intraday gains as the dollar staged a local reversal. The pair was last seen clinging to the 0.7200 figure, a break below which would pave the way back to the 100-DMA that arrives at 0.7150. Still, the daily RSI keeps trending slightly higher in the neutral territory, suggesting there is scope for fresh gains in the short term. In the immediate term, the Kiwi needs to hold above 0.7200 on a daily closing basis. On the weekly charts, the pair has settled above the 20-SMA, adding to a broadly upbeat technical picture.

AUDUSD

AUDUSD rallied to one-month highs above the 0.7800 figure earlier in the day but failed to preserve gains and retreated during the European hours. The pair was last seen trading in the 0.7770 area, up 0.28%. Despite the correction, the Aussie remains positive and could see more gains in the short term. On the other hand, the RSI is pointing only slightly higher in the neutral territory, suggesting the upside potential is limited at this stage. On the downside, the immediate support arrives around 0.7750, followed by 0.7725, and 0.7700. In a wider picture, the prices are holding marginally above the 20-week SMA. As long as this moving average acts as support, bearish risks are limited.

Tags: AUDUSDEURUSDGBPUSDNZDUSDUSDJPY
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

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

Stores on 125th Street in Harlem are closed, as retail sales suffer record drop during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S.

Chicago Fed economic index takes recessionary plunge in March

April 20, 2020 09:32
10
Pound corrects higher due to dollar weakness

Dollar could extend the ascent in the near term

March 30, 2021 08:07
15
Dollar lacks upside momentum due to lower Treasury yields

High-yielding currencies stay on the defensive

March 2, 2022 11:15
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 © 2022 FWNews

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

Copyright © 2022 FWNews