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

Greenback lacks bullish drivers to regain ground

January 11, 2022 00:20
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
Tuesday, February 7, 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 lacks bullish drivers to regain ground

Greenback lacks bullish drivers to regain ground

by Joseph Deen
January 11, 2022 00:20
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The pound may lose the upside momentum and correct lower in the short term

EURUSD

The USD index failed to overcome the 96.00 handle at the start of the week and has been struggling to regain the upside momentum since then. Of note, the greenback hasn’t derived significant support from a rise in 10-year Treasury yields to fresh two-year highs. The euro resumed the upside on Tuesday, erasing yesterday’s losses as the dollar is back under pressure. The EURUSD pair briefly dipped below 1.1300 before bouncing to local highs in the 1.1350 area. However, the prices slipped back to the 1.1330 region in recent trading, suggesting the euro’s upside potential stays limited. The inability to hold above 1.1300 would shift market focus back to the 1.1270 zone, followed by the 1.1235 area. Despite the current weakness, the dollar remains within a broader uptrend and could yet jump to fresh long-term highs in the medium term.

GBPUSD

The cable keeps climbing north on Tuesday, with the technical picture improving further after a break above the 100-DMA, currently at 1.3550. The pair advanced to more than two-month highs around 1.3620 and was last seen clinging to the 1.3600 figure. As dollar demand could reemerge at any point, the pound may lose the bullish momentum and correct lower in the short term. In other words, the pair is yet to confirm a break above the mentioned moving average and the 1.3600 level on a daily closing basis. On the other hand, the daily RSI is pointing north but is yet to enter the overbought territory, suggesting there is room for further gains at this point. On the hourly timeframes, there are some signs of waning upside momentum, however.

USDJPY

USDJPY turned positive following four days of losses in a row. The pair bounced from the 115.00 figure to notch intraday highs in the 115.40 area that represents the immediate resistance at this point. Despite the recent recovery, it looks like the dollar would lack the momentum to get back above the 116.00 figure in the short term, with downside risks persisting as long as the prices stay below 115.60. In a wider picture, however, USDJPY is marginally off five-year tops registered in the 116.35 region last week. The recent retreat was triggered by profit-taking at elevated levels, with the broader bullish trend staying intact. On the four-hour charts, the technical picture looks neutral for the time being as the prices are stuck between the 20- and 100-DMAs while the RSI is directionless around the 45 figure.

XAUUSD

Gold prices keep trending north for the third day in a row on Tuesday. The XAUUSD pair advanced to local highs in the $1,810 area earlier in the day before correcting to $1,805 in recent trading. Still, the technical picture keeps improving after recovery above the $1,800 handle. Now, the precious metal needs to confirm recovery above this figure on a daily closing basis. Otherwise, the selling pressure could reemerge and bring the prices back below the 20- and 200-DMAs that converge at the mentioned psychological level. On the weekly timeframes, the bullion has turned marginally positive but is yet to climb back to the $1,830 area in order to erase last week’s losses. On the downside, the $1,780 area represents the key support that capped losses on Friday.

USDCHF

USDCHF rallied strongly on Monday to get back to mid-December highs around 0.9275. Today, the demand has cooled, with the pair flirting with the 0.9260 area during the European hours following a dip towards 0.9240 earlier in the day. Now, the prices need to hold above the 0.9200 figure in order to preserve gains and stay afloat following the recent jump. On the hourly charts, USDCHF was last seen trying to regain the 20-SMA, while the RSI is pointing north, adding to a more upbeat technical picture. should the USD index receive a bullish boost in the near term, the pair may challenge fresh local highs and even target the 0.9300 figure for the first time since late November. 

Tags: EURUSDGBPUSDGoldUSDUSDCHFUSDJPYXAUUSD
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

Investors spooked by US CPI and Fed’s hawkishness

Investors spooked by US CPI and Fed’s hawkishness

February 11, 2022 15:15
11
Russian ruble licks wounds at all-time lows

Dollar stays resilient even as the rally pauses

July 15, 2022 04:22
19
Stocks extend the decline after a short-lived recovery on Wall Street

Stocks extend the decline after a short-lived recovery on Wall Street

January 29, 2021 03:34
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
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