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

Dollar resumes the downside, looks choppy

June 24, 2022 06:22
Russian ruble licks wounds at all-time lows

Dollar demand intensifies, with month-end flows in focus

June 30, 2022 06:42
Equity markets mixed ahead of the weekend

Markets struggle for direction as worries persist

June 30, 2022 04:15
Dollar lacks upside momentum due to lower Treasury yields

Greenback continues to outperform its rivals

June 29, 2022 05:31
Stocks retain bullish bias, capping dollar’s recovery

Risk demand wanes across the markets, dollar edges higher

June 29, 2022 04:49
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
Geopolitics pushes global markets south, dollar bulls back in the game

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
Dollar lacks upside momentum due to lower Treasury yields

USD slightly on the defensive to start the week

June 27, 2022 06:04
Markets struggle for direction, dollar steady after gains

Stock market rally continues, pressuring the dollar

June 27, 2022 04:50
Risk sentiment looks mixed, dollar retreats marginally

Equities in positive territory ahead of the weekend, dollar lags

June 24, 2022 05:13
Stocks making recovery attempts, markets remain unstable

Markets indecisive as recession fears persist

June 23, 2022 09:11
Dollar lacks upside momentum due to lower Treasury yields

USD regains bullish bias, volatility ebbs somehow

June 23, 2022 08:44
Dollar lacks upside momentum due to lower Treasury yields

Greenback bounces due to risk aversion

June 22, 2022 07:50
  • Terms & Сonditions
  • Contact
Friday, July 1, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Equity markets mixed ahead of the weekend

    Markets struggle for direction as worries persist

    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the week

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

    Markets struggle for direction as worries persist

    Stocks retain bullish bias, capping dollar’s recovery

    Risk demand wanes across the markets, dollar edges higher

    Geopolitics pushes global markets south, dollar bulls back in the game

    Stocks retain bullish bias, capping dollar’s recovery

    Markets struggle for direction, dollar steady after gains

    Stock market rally continues, pressuring the dollar

    Risk sentiment looks mixed, dollar retreats marginally

    Equities in positive territory ahead of the weekend, dollar lags

    Stocks making recovery attempts, markets remain unstable

    Markets indecisive as recession fears persist

    Global stocks in recovery mode but still cautious

    Global stocks back under pressure after short-lived relief rally

    Equity markets mixed, focus shifts to Blinken-Lavrov meeting

    Markets enjoy recovery but risks persist

    Global stocks struggle after a bearish week

    Markets relatively steady to start the 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 resumes the downside, looks choppy

Dollar resumes the downside, looks choppy

by Joseph Deen
June 24, 2022 06:22
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

Dip buyers prevent the pound from a more aggressive decline these days

 EURUSD

The US dollar traded marginally lower, shedding 0.22% on the day. The USD index keeps holding above the 104.00 mark and could stage another rally after some hesitation as risk aversion could reemerge at any point due to persistent recession fears. The greenback came under some pressure as risk sentiment improved across the financial markets while US 10-year Treasury yields kept correcting lower to register nearly two-week lows earlier in the day. EURUSD has settled above 1.0500 after yesterday’s plunge that took the prices to 1.0480. The pair still needs to overcome the descending 20-DMA, today at 1.0592, in order to stage a more decisive bounce from long-term lows registered last month around 1.0350. as of writing, the shared currency was changing hands around 0.0550, up 0.28% on the day. On the hourly charts, the near-term technical picture has improved since the prices have settled above the key moving averages, but the overall outlook remains bearish anyway.

GBPUSD

GBPUSD bounced slightly on Friday, with dip buying preventing the pound from a more aggressive decline these days. The cable has settled just below the 1.2300 mark during the European trading hours, refraining from revisiting this week’s highs seen around 1.2325. Beyond this area, the descending 20-DMA arrives (currently at 1.2373). Short-term downside risks continue to persist while below this moving average. On the four-hour timeframes, the remain stuck between the key simple moving averages, trying to stage a more sustained bounce from the local lows. On the downside, the nearest support now lies at 1.2240, followed by the 1.2200 figure. In a wider picture, the pound would stay on the defensive while below the 1.3000 psychological level last seen more than two months ago. The immediate upside target now arrives at 1.2330, followed by the mentioned SMA.

USDJPY

USDJPY bounced after another dip witnessed during the Asian trading hours. The pair has settled just below the 134.00 mark since then, struggling for direction after two days of losses. For the time being, the greenback is unlikely to stage a sustained rally from the current levels while on the downside, the immediate support arrives at 134.25 where this week’s lows lie. Should the selling pressure reemerge aby time soon, the pair may challenge those lows and thus threaten the 134.00 mark. As the buck refrains from a more pronounced downside correction for the time being despite the extremely overbought conditions, another rally after a pause could be expected. Should the prices overcome the mentioned peaks, the 137.00 mark will come into the market focus. If the ascent continues in the coming days or weeks, USDJPY may target the 140.00 handle eventually.

XAUUSD

Gold prices continue to face resistance represented by the 20- and 200-DMAs that converge today at $1,842. After another failed attempt to overcome this barrier, the precious metal came under severe pressure on Thursday to notch one-week lows just above the $1,820 zone today. The XAUUSD turned slightly positive in early European trading hours, still struggling to stage a sustained recovery so far despite some retreat in the dollar. The bullion is unlikely advance beyond the mentioned moving averages any time soon, with bearish risks persisting for the time being. On the downside, failure to hold above the $1,815 mark would pave the way to this month’s lows around $1,805. Should the dollar extend the retreat in the near term, the metal could stage a bounce, but any meaningful and sustained recovery looks unlikely at this stage, especially as gold struggles to capitalize on its safe-haven status as of late. In the longer term, XAUUSD could regain the $2,000 mark, but for the time being, the path of least resistance remains to the downside.

Tags: DollarEURUSDGBPUSDGoldUSUSDUSDJPYXAUUSD
Share4Tweet2
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

Russian ruble licks wounds at all-time lows
Technical analysis

Dollar demand intensifies, with month-end flows in focus

June 30, 2022 06:42
15
Equity markets mixed ahead of the weekend
Fundamental analysis

Markets struggle for direction as worries persist

June 30, 2022 04:15
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Greenback continues to outperform its rivals

June 29, 2022 05:31
15
Stocks retain bullish bias, capping dollar’s recovery
Fundamental analysis

Risk demand wanes across the markets, dollar edges higher

June 29, 2022 04:49
17
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar stays downbeat, but bearish potential remains limited

June 28, 2022 06:15
18
Geopolitics pushes global markets south, dollar bulls back in the game
Fundamental analysis

Stocks retain bullish bias, capping dollar’s recovery

June 28, 2022 04:38
19

Leave Your Opinion Cancel reply

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

Recommended

Stocks mostly lower despite upbeat economic data

Markets look for rebound after plunge

June 14, 2022 04:51
17
Pound corrects higher due to dollar weakness

Dollar steadies after another rally

October 7, 2021 07:06
17
Euro struggles below three-month highs, yen demand persists

Dollar bulls back in the game, USDJPY extends gains for the fifth consecutive day

June 30, 2020 10:44
23

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