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

Greenback trims losses as safe-haven demand picks up

October 21, 2021 11:53
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
Saturday, April 1, 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 » Greenback trims losses as safe-haven demand picks up

Greenback trims losses as safe-haven demand picks up

by Joseph Deen
October 21, 2021 11:53
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD needs to see a decisive break above the 1.1700 barrier in order to stage a more robust bounce that has been witnessed since last week

EURUSD

The dollar has been on the defensive these days as risk-on tone prevails in the global financial markets. However, the safe-haven demand for the greenback picked up, pushing the US currency into the positive territory versus major rivals. As such, the euro slipped from intraday highs around 1.1670 to settle in the 1.1640 area in recent trading. At this stage, the downside potential is limited as long as the pair stays above a slightly descending 20-DMA that arrives just above the 1.1600 figure. On the weekly timeframes, the common currency has settled above the 100-SMA, adding to a more upbeat technical picture. However, EURUSD needs to see a decisive break above the 1.1700 barrier in order to stage a more robust bounce that has been witnessed since last week when the prices plunged to mid-2020 lows around 1.1525.

GBPUSD

Following another failed attempt to challenge the 200-DMA, GBPUSD turned negative on Thursday after two days of gains as dollar demand reemerged. The pair dropped to intraday lows around 1.3785 and was last seen flirting with a slightly descending 100-DMA around the 1.3800 figure. A daily close below this moving average would mark some deterioration in the short-term technical picture while a broader outlook remains relatively resilient at this stage despite the daily RSI has turned lower today. On the four-hour timeframes, the pound is about to get below the 20-SMA, suggesting the pair could lack the momentum to erase intraday losses and turn positive on a daily closing basis. The immediate support now arrives at 1.3770, followed by the 1.3750 area.

USDJPY

USDJPY peaked at four-year highs around 114.70 on Wednesday before retreating towards the 114.25 region. Today, the prices stay under the selling pressure to settle around 114.00 during the European hours. Despite the rejection from the mentioned tops, the dollar remains resilient, with the trend remaining bullish. It looks like the pair could see a deeper bearish correction in the near term before staging another rally towards the 115.00 psychological level. On the downside, the nearest support arrives at 113.65, followed by the 113.25 region. On the hourly timeframes, the technical picture looks neutral for the time being, with the RSI directionless around the 40 figure while the prices are clinging to the 114.00 mark ahead of the opening bell on Wall Street.

XAUUSD

Gold prices have been climbing north for the third day in a row on Thursday. The XAUUSD pair extended gains to the $1,790 area that represents the intermediate barrier on the way towards the $1,800 figure last seen one week ago when the bullion was rejected from this level. It looks like the precious metal would struggle below $1,800 in the near term as dollar demand has picked up somewhat since yesterday. Should the prices be rejected from there once again, the market focus may shift back to the ascending 20-DMA, today at $1,763. In a wider picture, the yellow metal is stuck between the 20- and 100-week SMAs but looks set to finish the week on a stronger footing.

AUDUSD

The Aussie briefly surged to early-July highs around 0.7545 earlier in the day before retreating aggressively. As a result, the pair slipped below the 0.7500 figure amid profit-taking and was last seen changing hands around 0.7485, down nearly 0.4% on the day. Now, the 0.7500 level represents the immediate barrier for the pair. It looks like the prices could stay under pressure in the near term as the greenback corrects higher nearly across the board. During the bearish retreat, the daily RSI has corrected from the overbought territory to settle back below the 70 figure and was last seen pointing south, suggesting the path of least resistance is to the downside for the time being.

Tags: AUDUSDEURUSDGBPUSDGoldUSDJPYXAUUSD
Share4Tweet2
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
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
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

Leave Your Opinion Cancel reply

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

Recommended

Minutes of the Board’s discount rate meeting on April 29, 2020

May 26, 2020 02:11
10
Dollar lacks upside momentum due to lower Treasury yields

Dollar continues to refresh multi-year tops nearly across the market

April 28, 2022 12:59
14
Dollar lacks upside momentum due to lower Treasury yields

Dollar gives up gains after a short-lived rally

February 15, 2022 13:43
12

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