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

Dollar stumbles after recent gains

September 23, 2021 07:35
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 stumbles after recent gains

Dollar stumbles after recent gains

by Joseph Deen
September 23, 2021 07:35
in Technical analysis
0
Pound corrects higher due to dollar weakness

The common currency remains fragile following five days of losses despite the current retreat in the greenback

EURUSD

The dollar finished higher on Wednesday following the outcome of the Federal Reserve meeting. However, the greenback came under pressure today, falling in tandem with the Treasury yields. Against this backdrop, EUR/USD bounced back above 1.1700 but failed to extend the recovery that was capped by the 1.1730 region early in Europe. The euro was last seen changing hands around 1.1715, up 0.27% on the day. The common currency remains fragile following five days of losses despite the current retreat in the greenback. It is possible that the pair will fail to hold above the 1.1700 figure on a daily closing basis as dollar demand could reemerge at any point. On the hourly timeframes, EURUSD encountered local resistance represented by the 100-SMA to trim some losses in recent trading. On the upside, a decisive break above the 1.1730 region would pave the way towards the 1.1755 area, followed by the 1.1800 key barrier last seen one week ago.

GBPUSD

The cable derived support from the 1.2609 area that capped the way towards the 1.3600 psychological support earlier in the day. As a result, the pair bounced higher on the back of dollar weakness. The prices extended the recovery to 1.3683, refraining from challenging yesterday’s highs around 1.3690. If this level gives up anytime soon, a rally above 1.3700 could be expected in the short term. On the downside, the immediate support now arrives around 1.3660, followed by the 1.3610 zone. The overall technical picture looks mixed as the daily RSI reversed higher while the prices remain well below the key moving averages these days. On the positive side, a sustained recovery above the 1.3700 level would pave the way towards the 1.3725 region, followed by the 20-DMA, today at 1.3770. In a wider picture, the bullish potential has been capped by the 20-week SMA since June, and it looks like the prices will stay below this barrier in the days and weeks to come.

USDJPY

USDJPY rallied strongly on Wednesday to extend gains today. The pair briefly jumped to the 111.00 figure that capped gains and triggered a local downside correction during the European hours. The dollar was last seen changing hands at 110.85, less than 0.1% up on the day. On the positive side, the pair is now trying to stay above the 20- and 100-DMAs but it is yet to confirm the latest breakout on a daily closing basis. The daily RSI is now pointing higher in the neutral territory, suggesting there is room for further gains in the near term. However, if the greenback fails to hold above the 109.70 area, the 109.35 area would come back into the market focus. In a wider picture, USDJPY continues to oscillate around the 20-week SMA, struggling for a direction below the 111.00 key barrier.

NZDUSD

The Kiwi turned positive on Thursday following seven days of losses. The pair dipped to the 0.6980 area before bouncing strongly. The recovery was capped by the 0.7055 region, just below the 100- and 20-DMAs in the 0.7060-0.7070 area. It looks like the New Zealand dollar would need an extra catalyst to overcome this resistance area represented by the mentioned moving averages. On the downside, the pair needs to hold above the 1.7000 figure on a daily closing basis in order to confirm the latest breakout. On the four-hour charts, the technical picture looks upbeat, with the RSI pointing north while the prices have settled above the key moving averages, clinging to the upper end of the extended trading range. If the mentioned resistance gives up anytime soon, the pair would target the 0.7070 region.

Tags: EURUSDGBPUSDNZDUSDUSDJPY
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 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

Pound corrects higher due to dollar weakness

Greenback remains on the offensive across the board

September 20, 2021 09:49
16
US tech sector continues to drive global markets lower

US tech sector continues to drive global markets lower

September 11, 2020 07:29
14
Investors cautious amid virus-related uncertainty

Investors cautious amid virus-related uncertainty

August 10, 2021 11:43
19

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