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

Greenback steady after a rally

January 4, 2022 05:02
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 steady after a rally

Greenback steady after a rally

by Joseph Deen
January 4, 2022 05:02
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The common currency now needs to regain the 20-DMA in order to see a more robust recovery in the short term

EURUSD

The dollar jumped nearly across the board on Monday as US Treasury yields rose, pushing the USD index back above the 96.00 figure. As a result, the euro retreated from local highs to get back below the 1.1300 figure. On Tuesday, EURUSD has settled around this level, struggling to regain the upside momentum. The pair was last seen changing hands in the 1.1305 area, up 0.09% on the day. The common currency now needs to regain the 20-DMA in order to see a more robust recovery in the short term. However, it looks like the prices would lack the upside momentum to get back to the 1.1370-1.1380 region anytime soon as the dollar holds steady after yesterday’s rally. In a wider picture, the greenback is expected to remain bolstered by the Fed’s intentions to hike the interest rates this year.

GBPUSD

The pound erases Monday’s losses while still staying below a slightly descending 100-DMA that represents the key barrier for the sterling bulls at this point. It looks like the pair would lack the upside momentum to overcome this hurdle, currently at 1.3555. Of note, the cable last touched this moving average in late October and was rejected from it eventually. On the four-hour charts, GBPUSD was last seen flirting with the 20-SMA while also trying to settle above the 1.3500 figure. Should the upside bias persist anytime soon, the pair could attract some profit-taking as the mentioned moving average will likely deter the bulls once again. On the downside, the immediate support is now expected at 1.3460, followed by the 1.3420 area and the 1.3400 figure.

USDJPY

USDJPY extends the ascent on Tuesday due to a lack of the safe-haven yen demand. The pair rallied to fresh five-year highs in the 115.90 area, targeting the 116.00 figure during the European hours. Of note, the greenback keeps clinging to the upper end of the extended range despite the RSI entering the overbought territory in recent trading. Still, a downside correction could take place in the near term as the 116.00 level could trigger some profit-taking and send the prices back at least to the 115.50 area, followed by the 115.30 support zone. On the shorter-term timeframes, the pair looks overbought as well, suggesting a retreat could be expected soon. In a wider picture, however, the dollar would stay bullish and elevated, preserving the uptrend from the start of 2021.

XAUUSD

Gold prices briefly climbed to November 22 highs around $1,831 before plunging on Monday. In the process, the bullion slipped back below the $1,800 psychological level before bouncing marginally today. The XAUUSD pair was last seen changing hands around $1,808, up 0.44% on the day. Of note, the prices managed to hold above the key moving averages during the recent sell-off, suggesting the downside potential could be limited as long as the precious metal stays above these SMAs that arrive in the $1,798-$1,792 region. On the upside, a decisive break above the mentioned multi-week highs in the $1,830 area would pave the way towards the $1,843 next resistance, followed by the $1,860 barrier, standing on the way towards mid-2021 highs seen at $1,877.

USDCHF

USDCHF bounced strongly from nearly two-month lows around the 0.9100 figure to get back to the 0.9200 area where the 20-DMA capped gains on Monday. Today, this moving average continues to act as the nearest resistance, with the pair struggling for direction around the flat-line. It looks like the greenback will struggle to overcome the key SMA in the near term as the USD bulls may need a break after a strong one-day rally. On the downside, the immediate support now arrives at 0.9170 where the 200-DMA lies. On the weekly timeframes, the pair has already erased last week’s losses but is yet to preserve gains as the downside correction could take place in the short term.

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

Nancy Pelosi’s stomach-turning impeachment charade damages America

Risk tones keep tentative after Pelosi’s Taiwan visit

August 3, 2022 10:54
19
Evergrande and the Fed make investors nervous

Evergrande and the Fed make investors nervous

September 21, 2021 06:23
14
Dollar lacks upside momentum due to lower Treasury yields

Greenback clings onto gains ahead of the weekend

March 11, 2022 05:44
13

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