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

Dollar demand reemerged but the momentum looks limited

April 27, 2021 07:39
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
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
  • Terms & Сonditions
  • Contact
Monday, September 25, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    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

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

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

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

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

Home » Dollar demand reemerged but the momentum looks limited

Dollar demand reemerged but the momentum looks limited

by Joseph Deen
April 27, 2021 07:39
in Technical analysis
0
A slow start to the week in FX markets

The common currency could struggle to regain the 1.2100 figure in the short term, but downside risks look limited as well

EURUSD

EURUSD slipped to the 100-DMA around 1.2050 earlier in the day before bouncing slightly. The euro remains under some selling pressure during the European hours following yesterday’s rejection from two-month peaks beyond 1.2100. The pair was last seen changing hands around 1.2075, down less than 0.1% on the day. The common currency could struggle to regain the 1.2100 figure in the short term, but downside risks look limited as well. On the four-hour charts, the pair bounced from the 20-SMA to trim losses, suggesting the immediate technical picture looks rather neutral than bearish. On the downside, the mentioned moving average represents the key immediate support.

GBPUSD

The cable has been rising for the third consecutive day on Tuesday despite the dollar turned positive amid worsening risk sentiment in the global financial markets. The pair managed to hold above the 20-DMA last week and was last seen flirting with the 1.3900 figure during the European hours. Now, the immediate resistance is represented by the 1.3930 region, followed by the 1.3950 zone and the 1.4000 key hurdle that triggered a pullback last week. As the pound refrains from challenging the nearest barrier, it looks like the prices could stay within the current trading range before deciding on a clearer direction. As long as GBPUSD remains above the mentioned 20-DMA (today at 1.3830), downside risks look limited.

USDJPY

USDJPY edges modestly higher on Tuesday while facing local resistance around 108.40. The pair extends the recovery from last week’s lows seen in the 107.50 area but still looks upside momentum to stage a more sustained bounce towards the 109.00 figure where the descending 20-DMA lies. However, as the daily RSI is pointing north in the neutral territory, the greenback could at least retain a bullish bias in the short term. On the downside, the immediate support is now represented by the 108.00 level. A daily close above this figure would be a confirmation of the latest modest breakout while below 107.75, bearish pressure could reemerge and intensify eventually.

NZDUSD

The Kiwi rose to mid-March highs around 0.7240 on Monday before losing upside momentum to settle in negative territory today. Earlier in the day, the pair derived support from the 0.7200 figure to bounce to 0.7225 in recent trading. However, the New Zealand dollar now needs to regain the 0.7235 region in order to turn positive on the day. At the same time, as long as the prices stay above 0.7200, downside risks look limited. On the four-hour charts, the prices are barely holding above the 20-SMA, a break below which would somehow add to the local selling pressure.

USDCAD

USDCAD plunged to mid-March lows below 1.2400 on Monday, struggling to regain this figure today despite the dollar turned positive across the board. The pair faced resistance around 1.2420 earlier in the day but failed to extend the recovery as the greenback still lacks upside momentum to stage a more robust ascent. In the short term, USDCAD will likely stay on the defensive, with risks of returning below 1.2400 persisting. On the hourly charts, the prices were last seen flirting with the 20-DMA while the RSI was pointing south, suggesting the upside potential is limited at this stage.

Tags: EURUSDGBPUSDNZDUSDUSDCADUSDJPY
Share5Tweet3
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 receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
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
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar rally pauses to start the week

September 11, 2023 06:46
14

Leave Your Opinion Cancel reply

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

Recommended

Global stocks struggle after a bearish week

Markets finish the week on a downbeat note

January 14, 2022 23:27
10

Rising oil prices put Fed’s Jerome Powell in a tough spot amid inflation worries, Jim Cramer says

June 15, 2021 14:45
10
Biden transition progress fuels market optimism

Biden transition progress fuels market optimism

November 24, 2020 04:32
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
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