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

Dollar pairs steady in familiar ranges

December 22, 2021 01:41
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 » Dollar pairs steady in familiar ranges

Dollar pairs steady in familiar ranges

by Joseph Deen
December 22, 2021 01:41
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Currencies are clinging to tightening ranges in thinner pre-holiday trading

EURUSD

The dollar looks steady around mid-2020 highs, with major pairs clinging to tightening ranges in thinner pre-holiday trading. EURUSD keeps flirting with the 20-DMA, struggling to regain the 1.1300 figure since the start of the week. The pair was last seen changing hands around 1.1280, just around the flat-line, with the current technical picture looking neutral for as long as the common currency stays in the 1.1230-1.1300 range. On the four-hour charts, EURUSD struggles to overcome the 20-SMA, suggesting the upside potential surrounding the euro remains limited while bearish risks continue to persist at this point. Later today, the pair could come under pressure should the US GDP data exceed expectations and trigger a rally in the greenback.

GBPUSD

The cable extends its recovery from 2021 lows seen around the 1.3170 area last week. On Wednesday, the pair extended gains to the 1.3320 area and was last seen clinging to the upper end of the trading range. However, it looks like the pound could face resistance represented by the 1.3340 level as the dollar remains strong and steady in general, especially as risk sentiment in the global financial markets remains unstable. Of note, the pair is now challenging the 100-week SMA that could cap further gains. In the short term, GBPUSD needs to hold above the 20-DMA, currently at 1.3260, on a daily closing basis. Otherwise, the prices could get back below the 1.3240 region and see deeper losses before the end of a shortened trading week.

USDJPY 

USDJPY rallied on Tuesday, extending gains today, with the pair flirting with one-month highs around 114.30. The short-term technical picture has improved further after a recovery above the 114.00 figure. Now, the dollar may target the 114.85 zone if the mentioned highs give up anytime soon. Should the prices proceed to a downside correction, however, the pair could threaten the 20-DMA, currently at 113.60. On the four-hour timeframes, the RSI is about to enter the overbought territory, suggesting the greenback may erase a part of recent gains in the near term. In a wider picture, the pair remains slightly off long-term highs registered around 115.50 one month ago. 

USDCHF

USDCHF has been retaining a bullish bias for the second day in a row on Wednesday, struggling to overcome the 0.9250 region since last week. It looks like the dollar would need an extra catalyst in order to overcome this strong barrier in the short term. USDCHF was last seen trading at 0.9240, up 0.2% on the day. On the downside, the immediate support now arrives at 0.9225 where the 20-DMA lies. as long as the pair stays above this moving average, the downside potential is limited. On the weekly charts, the dollar stays positive since the beginning of December but still struggles to hold above the descending 100-week SMA. Should the greenback receive a fresh boost in the near term, the pair may make another bullish attempt at 0.9250.

USDCAD 

USDCAD rallied to more than one-year highs at the start of the week and has been losing ground since then. On Wednesday, the pair extended the downside correction to the 1.2900 figure, a break below which would pave the way towards this week’s lows in the 1.2875 area, followed by the 1.2860 zone. For the time being, the bearish pressure looks limited, so if 1.2900 withstands the pressure in the short term, the dollar could regain the upside bias in the coming days. Of note, the 100-week SMA arrives at the mentioned long-term highs, suggesting the pair could struggle to make a decisive break above this solid resistance. On the four-hour timeframes, the technical picture looks neutral, with the RSI directionless around 55. 

Tags: DollarEURUSDGBPUSDGDPUSUSDCADUSDCHFUSDJPY
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

Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off selling pressure

August 12, 2022 09:58
17
Dollar lacks upside momentum due to lower Treasury yields

Greenback struggles despite unstable risk trends

February 18, 2022 10:53
13
Moderna announced upbeat results of its third round of vaccine tests

Vaccine hopes drive markets higher

July 15, 2020 06:19
17

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