• Latest
  • Trending
  • All
Dollar lacks upside momentum due to lower Treasury yields

Dollar extends the upside correction as yields jump

January 18, 2022 05:15
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
Friday, January 27, 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 extends the upside correction as yields jump

Dollar extends the upside correction as yields jump

by Joseph Deen
January 18, 2022 05:15
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

GBPUSD keeps losing ground for the third day in a row on Tuesday, retreating from late-October highs

EURUSD

A jump in Treasury yields pushed the dollar north, with the USD index continuing its recovery from two-month lows seen last week. As such, EURUSD is now back below the 1.1400 figure and could threaten the ascending 20-DMA, currently at 1.1350, should the buying pressure surrounding the dollar intensify anytime soon. In a wider picture, the pair is now stuck between the 100- and 20-DMAs, with the 1.1400 level being in the market focus at this point. On the hourly charts, the common currency struggles below the 20-SMA while the RSI looks directionless in the neutral territory, suggesting the pair could see a short-term consolidation before deciding on the further direction. On the upside, a decisive recovery above 1.1400 would bring back the 1.1435 intermediate barrier into the market focus.

GBPUSD

GBPUSD keeps losing ground for the third day in a row on Tuesday, retreating from late-October highs seen last week around 1.3750. Today, the pair extended the bearish correction to the 1.3615 zone, threatening the 1.3600 figure that represents the immediate support at this point. Should this level give up anytime soon, the cable would target the 1.3575 area, followed by the 1.3545 area where the 20- and 100-DMAs arrive. In a wider picture, the downside risks are limited as long as the prices stay above the 20-week SMA, currently at 1.3540. In the immediate term, it looks like the pound could extend the decline as the daily RSI keeps correcting from the overbought territory, with bearish bias persisting.

USDJPY

USDJPY dipped to local lows around 113.50 late last week before bouncing back above the 114.00 figure on a weekly closing basis. On Tuesday, the dollar extended the recovery to 115.05 but failed to preserve gains and retreated back below the 20-DMA that continues to act as a local resistance. As of writing, USDJPY was changing hands around 113.70, up just 0.09% on the day. Despite the resurgent bullish bias, it looks like the pair would lack the upside momentum to settle above the mentioned moving average on a daily closing basis. Furthermore, should risk aversion intensify anytime soon, the safe-haven demand for the Japanese yen could push USDJPY back into the negative territory. On the downside, the immediate support now arrives at 114.40.

XAUUSD

Gold prices have been struggling since another failure at $1,830 last Friday. Yesterday, the XAUUSD pair climbed marginally to get back under the selling pressure on Tuesday. The bullion slipped to the $1,810 area where the 20-DMA lies. Should this moving average withstand the pressure, a bounce could be expected in the near term. However, the upside potential remains limited anyway, at least as long as the precious metal stays below the $1.830 resistance zone. On the four-hour timeframes, the prices were last seen flirting with the 100-SMA, a break below which would pave the way towards the $1,800 psychological support, now strengthened by the 200-DMA. In a wider picture, the $1,800 level is also crucial for the bulls as below it, the technical outlook would deteriorate. 

USDCHF

USDCHF has been retaining a bullish bias since last Friday, extending the bounce from early-November lows seen just below the 0.9100 figure. On Tuesday, the dollar climbed to the 0.9165 area before trimming some gains in recent trading as the USD bulls were spooked by the 200- and 20-DMAs. Still, the pair stayed in the positive territory, adding 0.11% on the day. On the downside, the immediate support arrives at 0.9130, followed by the 0.9110 region. On the hourly charts, the technical picture looks neutral as the RSI is directionless while the prices are holding above the key moving averages. IN a wider picture, USDCHF needs to overcome the 0.9200 figure in order to shrug off the downside pressure and retarget cyclical highs around 0.9370. 

Tags: DollarEURUSDGBPUSDGoldUSDUSDCHFUSDJPYXAUUSD
Share2Tweet1
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

Trade of the Day: GBP/JPY

EU healthcare agreement supports the markets

July 23, 2020 09:56
18
Pound corrects higher due to dollar weakness

Dollar is back under pressure nearly across the board

February 15, 2021 06:45
14

The Fed could still move markets Wednesday even with rates on hold for the foreseeable future

September 15, 2020 14:32
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