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

Dollar regains ground cautiously

April 4, 2022 06:47
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, March 28, 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 regains ground cautiously

Dollar regains ground cautiously

by Joseph Deen
April 4, 2022 06:47
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The USDJPY pair remains within a strong uptrend and could climb back to multi-year highs seen last week

EURUSD

The USD index is trading marginally higher on Monday, struggling for direction around 98.75 as risk sentiment looks mixed in Europe, with US stock index futures pointing lower. The greenback needs to overcome this intermediate barrier in order to retarget the 99.00 figure, followed by two-year highs. As such, EURUSD is now targeting the 1.1000 figure after another rejection from the 1.1050 intermediate hurdle that caps the way towards the 1.1100 figure. Earlier recovery attempts attracted the selling pressure, suggesting the path of least resistance for the common currency remains to the downside at this stage. Should the mentioned support give up, the pair may target the 1.0970 zone next. Adding to a more downbeat tone surrounding the euro, the daily RSI is pointing lower while the 20-DMA is turning into resistance. In a wider picture, the outlook for the pair remains bearish as well.

GBPUSD

GBPUSD has settled just above the flat-line during the European hours, looking indecisive now as the dollar regains ground. Earlier in the day, the pair encountered a local barrier around 1.3140 before retreating in recent trading. However, the cable holds above the 1.3100 figure that represents the immediate support, followed by intraday lows seen around 1.3090. On the hourly charts, the prices are approaching the 20-SMA while the RSI is pointing south, suggesting the pair could struggle to stay above 1.3100 in the near term. On the upside, a decisive break above the 1.3200 figure would help improve the technical picture somehow. However, in a wider picture, the bearish trend remains intact, with the pound trading below the key weekly moving averages, holding just slightly above November 2020 lows registered last month around 1.3000. 

USDJPY

USDJPY is nearly flat around 122.60, refraining from challenging Friday’s highs in the 123.00 area that represents the immediate target for dollar bulls. On the downside, the immediate support arrives at 121.30 where last week’s highs lie. Despite the lack of bullish impetus for the time being, the pair remains within a strong uptrend and could climb back to multi-year highs seen last week above the 125.00 figure after some hesitation. Also on the positive side, the greenback stays well above the ascending 20-DMA, today at 119.90. On the four-hour timeframes, USDJPY derives support from the 20-SMA while the RSI looks directionless around the 54 figure, suggesting the near-term technical picture is neutral for the time being. Should the pair fail to regain the upside momentum anytime soon, the 122.00 figure would come back into the market focus.

USDCHF

USDCHF has been trending north since Friday, holding around 0.9270 during the European hours. Ahead of the weekend, the dollar was rejected from the 0.9280 zone that represents the immediate bullish target for the greenback for the time being. The pair is now holding above the key moving averages while the daily RSI is pointing slightly higher, suggesting the prices could eventually regain the 0.9300 figure should dollar demand continue to strengthen in the near term. On the downside, the immediate support arrives at 0.9230 where the 100-DMA, followed by the 200-DMA, today at 0.9210. In a wider picture, USDCHF struggles to regain a robust upside impetus following three weeks of a solid bearish correction from one-year highs seen above 94.00. In the immediate term, the greenback needs to hold above the 0.9240 zone in order to stay afloat.

Tags: DollarEURUSDGBPUSDUSUSDUSDCHFUSDJPY
Share2Tweet2
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
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
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists selling pressure

December 20, 2022 10:44
14

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’s bearish potential remains limited

May 5, 2022 06:23
13
Swedish flags fly from a tourist souvenir shop in Gamla Stan in Stockholm, Sweden

Change of plan? Here’s what Sweden will do if there’s a ‘second wave’ of the coronavirus

June 18, 2020 06:04
17

Federal Reserve leaves interest rates and asset purchases unchanged, sees growth slowing

January 27, 2021 19:42
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