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

Dollar consolidates recent rally, stays elevated

November 23, 2021 03:26
Dollar lacks upside momentum due to lower Treasury yields

Greenback trims losses, but stays offered nearly across the board

May 24, 2022 06:12
Global stocks in recovery mode but still cautious

Stocks back under pressure after short-lived relief rally

May 24, 2022 04:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar keeps bleeding as bearish correction continues

May 23, 2022 06:27
Markets digest the inflation shock, dollar enjoys the rally

Dollar sags as investor sentiment keeps improving

May 23, 2022 05:09
Dollar lacks upside momentum due to lower Treasury yields

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
Investor sentiment looks neutral at the start of the week

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
Dollar lacks upside momentum due to lower Treasury yields

Major currencies struggle below key SMAs

May 19, 2022 06:02
Geopolitical tensions ease but risks persist

Global stock rout continues on growth fears

May 19, 2022 05:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar regains ground after a three-day sell-off

May 18, 2022 06:09
Chinese data spooks investors, sentiment turns sour

Stock markets turn directionless after a bounce

May 18, 2022 05:08
Dollar lacks upside momentum due to lower Treasury yields

Currencies enjoy a bounce amid a weaker USD

May 17, 2022 06:51
Sentiment turns sour, dollar steadies ahead of the weekend

USD gives up gains as risk sentiment improves further

May 17, 2022 04:52
  • Terms & Сonditions
  • Contact
Wednesday, May 25, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Global stocks in recovery mode but still cautious

    Stocks back under pressure after short-lived relief rally

    Markets digest the inflation shock, dollar enjoys the rally

    Dollar sags as investor sentiment keeps improving

    Investor sentiment looks neutral at the start of the week

    Modest bounce after sell-off ahead of the weekend

    Geopolitical tensions ease but risks persist

    Global stock rout continues on growth fears

    Chinese data spooks investors, sentiment turns sour

    Stock markets turn directionless after a bounce

    Sentiment turns sour, dollar steadies ahead of the weekend

    USD gives up gains as risk sentiment improves further

    Stocks mostly lower despite upbeat economic data

    Markets failed to extend the bounce, back under pressure

    Risk sentiment looks mixed, dollar retreats marginally

    Dollar at fresh highs while stock markets keep bleeding

    Stocks continue to give up gains ahead of US jobs data

    Stocks bounce ahead of US inflation report

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Dollar consolidates recent rally, stays elevated

Dollar consolidates recent rally, stays elevated

by Joseph Deen
November 23, 2021 03:26
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

USD bulls were inspired by Biden’s decision to nominate Powell for a second term as Fed chair

EURUSD

The dollar consolidates yesterday’s rally, continuing to outperform its major rivals following Biden’s decision to nominate Powell for a second term as Fed chair. Earlier in the day, EURUSD dipped to fresh long-term lows around 1.1225 before bouncing marginally. Still, the common currency continues to cling to the lower end of the extended trading range, struggling to make a more decisive recovery as the greenback stays steady along with US Treasury yields. On the four-hour timeframes, the pair remains capped by the descending 20-SMA, adding to a downbeat technical picture. Should the downside pressure intensify anytime soon, the euro may challenge the 1.1200 handle for the first time since July 2020.

GBPUSD

The pound has been losing ground since last Friday, coming off local highs seen around 1.3500. Today, the pair extended losses to the 1.3357 figure, threatening the 1.3350 zone, a break below which would pave the way towards fresh 2021 lows. On the upside, the immediate resistance now arrives at 1.3400. In a wider picture, bearish risks persist as long as the prices stay below the descending 20-DMA, currently at 1.3523. For the time being, it looks like the path of least resistance for the cable is still to the downside, as the dollar remains strong and the daily RSI is pointing lower but hasn’t entered oversold territory just yet. Should the mentioned support give up, the pair would target the 1.3320 intermediate support, followed by the 1.3300 figure.

USDJPY

The USDJPY pair rallied to March 2017 highs beyond the 115.00 figure earlier in the day before profit-taking pushed the prices slightly into negative territory during the European hours as USD demand has waned somehow. However, the prices climbed back to the flat-line in recent trading to settle just below the 115.00 level ahead of the opening bell on Wall Street. Should the greenback exceed this barrier and confirm the latest breakout on a daily closing basis, the 115.50 region will come into the market focus next. However, it looks like traders may opt to take some profit at long-term highs, which implies that the pair could suffer a retreat in the short term while the broader bullish trend will remain intact anyway. 

XAUUSD

Gold prices keep sliding for the fourth day in a row on Tuesday, accelerating the decline amid a rallying dollar. The XAUUSD pair plunged to more than two-week lows around $1,790, where the 100- and 200-DMAs converge. The technical picture has deteriorated further since yesterday when the prices failed to hold above the 20-day SMA. In recent trading, the bullion derailed the $1,800 psychological support for the first time since November 5, suggesting downside risks could persist further at least in the short term. the precious metal could extend losses to the $1,760 area that triggered a bounce and a subsequent rally that brought the prices to five-month highs around $1,877 just a week ago.

NZDUSD

The Kiwi keeps sliding after failed attempts to hold above the 100-DMA late last week. Today, the New Zealand dollar dipped to the 0.6920 region for the first time since mid-October and was last seen flirting with the lower end of the extended range. Should the mentioned lows give up anytime soon, the pair would extend losses to the 1.6900 figure that may act as support and trigger a bounce. On the other hand, there is room for further losses at this point, as the daily RSI hasn’t entered oversold territory just yet. On the hourly charts, NZDUSD has settled below the key moving averages, struggling to attract demand despite the RSI has already slipped below the 30 figure. On the upside, the immediate barrier now arrives at 0.6935, followed by the 0.6960 region. 

Tags: DollarEURUSDGBPUSDGoldNZDUSDUSDUSDJPYXAUUSD
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

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback trims losses, but stays offered nearly across the board

May 24, 2022 06:12
12
Global stocks in recovery mode but still cautious
Fundamental analysis

Stocks back under pressure after short-lived relief rally

May 24, 2022 04:42
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar keeps bleeding as bearish correction continues

May 23, 2022 06:27
12
Markets digest the inflation shock, dollar enjoys the rally
Fundamental analysis

Dollar sags as investor sentiment keeps improving

May 23, 2022 05:09
15
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD treads water after plunge, markets steady ahead of the weekend

May 20, 2022 06:21
13
Investor sentiment looks neutral at the start of the week
Fundamental analysis

Modest bounce after sell-off ahead of the weekend

May 20, 2022 04:51
15

Leave Your Opinion Cancel reply

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

Recommended

Pound corrects higher due to dollar weakness

Dollar nearly unchanged versus other majors

November 20, 2020 08:22
17
Dollar lacks upside momentum due to lower Treasury yields

The greenback seems unstoppable

May 12, 2022 06:34
16
A slow start to the week in FX markets

Dollar demand reemerged but the momentum looks limited

April 27, 2021 07:39
26

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 © 2020 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2020 FWNews