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

Major currencies struggle below key SMAs

May 19, 2022 06:02
Equity markets mostly depressed

Equity markets mostly depressed

September 22, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
Stock markets directionless as Fed meeting looms

Stock markets directionless as Fed meeting looms

September 19, 2023 07:03
Dollar lacks upside momentum due to lower Treasury yields

Dollar under some pressure after the weekend

September 18, 2023 07:00
Economic data and ECB boost stock market rally

Economic data and ECB boost stock market rally

September 15, 2023 07:57
Dollar lacks upside momentum due to lower Treasury yields

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
Stock markets struggle for direction ahead of major events

Stock markets struggle for direction ahead of major events

September 12, 2023 07:19
Dollar lacks upside momentum due to lower Treasury yields

Dollar rally pauses to start the week

September 11, 2023 06:46
Risk sentiment improves somewhat after a streak of losses

Risk sentiment improves somewhat after a streak of losses

September 8, 2023 07:08
Dollar lacks upside momentum due to lower Treasury yields

Unabated dollar demand keeps pressuring gold

September 7, 2023 07:26
  • Terms & Сonditions
  • Contact
Saturday, September 23, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mostly depressed

    Equity markets mostly depressed

    Stock markets directionless as Fed meeting looms

    Stock markets directionless as Fed meeting looms

    Economic data and ECB boost stock market rally

    Economic data and ECB boost stock market rally

    Stock markets struggle for direction ahead of major events

    Stock markets struggle for direction ahead of major events

    Risk sentiment improves somewhat after a streak of losses

    Risk sentiment improves somewhat after a streak of losses

    Dollar buoyed by risk aversion

    Dollar buoyed by risk aversion

    Equity markets indecisive ahead of the weekend

    Equity markets indecisive ahead of the weekend

    Stocks advance amid signs of a cooling US economy

    Stocks advance amid signs of a cooling US economy

    Powell and China fuel stock market rally

    Powell and China fuel stock market rally

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

Home » Major currencies struggle below key SMAs

Major currencies struggle below key SMAs

by Joseph Deen
May 19, 2022 06:02
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Dollar lacks bullish momentum despite massive risk aversion across the financial markets

EURUSD

The USD index surged on Wednesday but failed to regain the 104.00 mark that now represents the immediate barrier for dollar bulls. The buck struggles for direction today, lacking the safe-haven demand despite risk aversion continues to dominate global financial markets. EURUSD was rejected from the descending 20-DMA yesterday to settle just below 1.0500 again. Euro’s recovery attempts still look indecisive, with bearish trend staying intact both in the near and medium term. As of writing, the pair was changing hands around 1.0494, up 0.27% on the day. On the downside, the 1.0457 mark represents the immediate support, followed by the 1.0425 zone and 1.0400. In the near term, the European currency could make fresh bullish attempts, but the overall tone stays negative as long as the prices hold below at least the 1.1000 figure where the descending 100-DMA lies.  

GBPUSD

Similarly, GBPUSD failed to overcome the descending 20-DMA on Wednesday to erase previous day’s gains eventually. Today, the cable regained some bullish bias, holding marginally below the 1.2400 level. A daily close above this immediate barrier would help improve the near-term technical picture somehow, but downside risks continue to persist while below the 1.3000 mark last seen nearly one month ago. On the four-hour charts, the pair struggles around the key moving averages while the RSI is pointing sough, suggesting the path of least resistance remains to the downside at this stage. Failure at the 1.2330 immediate support would open the road towards 1.2300, followed by long-term lows seen around 1.2155 last week. On the weekly timeframes, however, the pound holds in positive territory for the first time in five weeks as the pair managed to bounce off the mentioned lows, albeit struggles to extend recovery.

USDJPY

USDJPY came off the 20-DMA to finish lower on Wednesday, with bearish bias persisting today. The pair extended the decline to the 127.70 zone, followed by this month’s lows seen at 1.2750 last week. Earlier this month, failure to hold above the 130.00 figure triggered profit-taking, which implies that the pair may have peaked already. However, the near-term upside potential persists as long as the dollar stays above the 121.00 figure last seen in late-March. On the hourly charts, the technical picture keeps deteriorating after failure to hold above the 20-SMA. Meanwhile, the RSI is yet to enter the oversold territory, suggesting there is room for deeper losses in the immediate term. Daily close below 127.50 would pave the way towards the 127.00 zone that capped the selling pressure in late-April.

USDCHF

USDCHF peaked at three-year highs around 1.0000 at the start of the week and has been losing ground since then. As the selling pressure intensified, the dollar retreated to the 0.9750 zone on Thursday and was last seen clinging to the lower end of the range. In the process, the pair derailed the 20-DMA, with strong bearish slope in the daily RSI adding to a negative short-term technical picture. As such, the market focus now shifts towards the 0.9700 where late-April lows arrive. It looks like the prices could see even deeper losses at this stage, but a broader uptrend remains intact while above a slightly ascending 200-DMA that arrives just below the 0.9300 mark. On the upside, the immediate resistance could be expected at 0.9820 where the mentioned 20-day SMA lies. Anyway, the greenback could resume the ascent after a deeper correction that may take place in the immediate term.

Tags: EURUSDGBPUSDUSDUSDCHFUSDJPY
Share3Tweet2
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

Equity markets mostly depressed
Fundamental analysis

Equity markets mostly depressed

September 22, 2023 07:00
11
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar receives fresh impetus from Fed

September 21, 2023 07:01
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback paralyzed in anticipation of Fed decision

September 20, 2023 07:00
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar under some pressure after the weekend

September 18, 2023 07:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD hesitates below the 105.00 barrier

September 14, 2023 07:00
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD steady and resilient in anticipation of US CPI

September 13, 2023 07:15
13

Leave Your Opinion Cancel reply

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

Recommended

Pound corrects higher due to dollar weakness

COVID fears send yen and dollar higher

October 28, 2020 09:55
13
Dollar slips as Trump suggests election delay

Dollar slips as Trump suggests election delay

July 31, 2020 11:02
12
German Chancellor Angela Merkel’s cabinet is considering holding a special meeting later’ this week

Investor optimism is waning amid mixed economic signals

June 8, 2020 11:02
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
124
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