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

Greenback remains in the defensive

June 21, 2022 07:15
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 » Greenback remains in the defensive

Greenback remains in the defensive

by Joseph Deen
June 21, 2022 07:15
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The euro could extend the ascent in the near term

EURUSD

The USD index remains pressured by positive risk sentiment that dominates financial markets since the start of the week. The greenback derailed the 104.00 mark, a break below which would pave the way to deeper losses in the near term. The next support should be expected at 103.80, followed by last week’s lows around 103.40. As such, the euro retains bullish bias, extending its rebound due to a weaker dollar. EURUSD has finally exceeded the 1.0550 intermediate resistance, now targeting the 1.0600 next barrier, followed by a significant 20-DMA, currently at 1.0620. Now that bulls are back in control and the dollar remains offered, the euro could extend recovery in the near term, with 1.0600 in focus. Last week, EURUSD was rejected from this figure to finish slightly lower, suggesting the pair may need extra drivers in order to make a decisive and sustained break above 1.0600.

GBPUSD

GBPUSD remains in positive territory since Monday after a plunge witnessed ahead of the weekend. The pair is now regaining ground around the 1.2300 figure after failure to overcome the 1.2325 region earlier in the day. Should the pound exceed the 1.2300 mark ion a daily closing basis, a slightly descending 20-DMA, today at 1.2423, will come back into the market focus. However, the pair is unlikely to regain this moving average anytime soon as the greenback remains buoyed despite some retreat. In the four-hour charts, GBPUSD is inching higher, holding above the ascending 20-SMA, but the directionless RSI in neutral territory suggests the upside potential is limited from here. On the downside, the immediate support now arrives at 1.2250, followed by 1.2200 and 1.2170. In a wider picture, bearish risks persist as long as the prices stay below the 200-week SMA, today at 1.3080.

USDJPY

USDJPY rallied back to the area of long-term highs ahead of the weekend and has been retaining bullish bias since then. Today, the pair extended gains to the 135.50 area, holding just a few pips away from fresh two-decade tops. The dollar was last seen clinging to the upped end of the intraday range, adding 0.30% on the day. The nearest support now arrives at 135.00, followed by 134.70 and the 134.50 zone. The daily RSI points slightly higher today, with the overall technical picture remaining bullish, especially as the buck last week refrained from a deeper bearish correction despite the extremely overbought conditions. Adding to positive outlook, the pair stays above the ascending 20-DMA, currently at 131.85. On the hourly timeframes, the technical picture looks bullish as well, with the RSI pointing north just below the 52 figure while the prices are holding above the key simple moving averages.

BTCUSD

Bitcoin continues its recovery from late-2020 lows seen around $17,600 last week. The BTCUSD pair regained the $20,000 psychological level and was last seen the $21,200 zone, adding around 3% on the day. The largest digital currency could extend the rebound in the near term, but the overall picture remains bearish, suggesting the selling pressure will reemerge after a so-called dead cat bounce. Earlier in the day, the coin was rejected from the $20,400 zone but managed to stay above $21,000, which implies that the prices could at least refrain from another sell-off in the immediate term. On the weekly charts, the technical picture remains downbeat after last week’s plunge, with bearish risks persisting as long as BTC stays below $45,000. Now, the price needs to hold above the $20,000 figure to avoid another deep sell-off to multi-year lows, this time probably around $15,000.

Tags: BITCOINBTCUSDDollarEURUSDGBPUSDUSDUSDJPY
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

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
Risk demand reemerges cautiously, but caution remains in place
Fundamental analysis

Risk demand reemerges cautiously, but caution remains in place

December 21, 2022 08:49
14

Leave Your Opinion Cancel reply

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

Recommended

Bank of Canada announces successful launch of standing term liquidity facility

March 30, 2020 17:21
10

Powell says low interest rates could last for years

September 4, 2020 14:32
10

Fed’s Harker says it will take ‘a while’ for jobs market to heal, would be OK with inflation at 2.5%

August 28, 2020 14:33
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