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

Greenback on the defensive ahead of CPI report

September 13, 2022 11:21
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, June 3, 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 on the defensive ahead of CPI report

Greenback on the defensive ahead of CPI report

by Joseph Deen
September 13, 2022 11:21
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

After an early rally towards 143.50, USDJPY retreated back below 143.00, threatening the 142.00 support zone

EURUSD

The US dollar stays pressured on Tuesday, albeit holding around the 108.00 figure after yesterday’s brief dip towards 107.80. The USD index remains on the defensive amid the ongoing profit-taking after last week’s jump to fresh two-decade highs seen just below the 111.00 figure. As such, EURUSD retains a bullish bias, holding above 1.01 on Tuesday. However, the shared currency stays below nearly one-month highs seen around 1.02 at the start of the week. The shared currency was last seen changing hands around 1.0147, adding 0.28% on the day. A daily close around 1.02 would be a confirmation of another short-term breakout. However, the euro would stay depressed in a wider picture, with bearish risks persisting in the longer-term. On the downside, the nearest support now arrives 1.0120, followed by the 1.0100 mark.

GBPUSD

GBPUSD has been climbing north for the third session in a row on Tuesday as the US dollar keeps retreating from multi-year tops seen last week. In the process, the pair derailed the descending 20-DMA for the first time in nearly a month and extended recovery to the 1.1730 zone to register fresh September highs before retreating marginally. In the near term, GBPUSD needs to confirm a break above 1.1700 on a daily closing basis in order to preserve the latest gains. Otherwise, the pair may fall back below both the mentioned moving average and the 1.1600 mark. On the upside, should the cable extend the ascent6 the next major target could be expected around 1.1820, followed by the 1.1930 zone and the 1.2000 psychological level. However, the pound is unlikely to stage a sustained and robust rally at this stage as dollar demand could reemerge at any point.

USDJPY

USDJPY gained on Monday to finish off intraday highs registered around 143.50. The pair failed to preserve the upside bias and came under renewed downside pressure today, albeit staying above 142.00 so far. As such, after an early rally towards 143.50, the prices retreated back below 143.00, threatening the 142.00 support zone now. Still, the pair keeps holding well above the ascending 20-DMA, today at 139.45. The dollar was last seen trading around 142.30, down 0.36% on the day. In the near term, USDJPY needs to hold above the 142.00 mark for a broader bullish momentum to persist. Should the buying pressure surrounding the US dollar reemerge, a decisive rally above 145.00 would bring fresh long-term tops into the market focus. The next major target for USD bulls now arrives at 147.00. On the downside, the prices could get back below 140.00 in case of a deeper retreat in the near term.

XAUUSD

Gold price extended its uneven recovery at the start of the week due to a weaker US dollar. The precious metal regained the $1,700 psychological level and exceeded the $1,730 zone to notch September highs around $1,735. However, the buying pressure surrounding the metal has eased on Tuesday as the bullion failed to confirm a break above the descending 20-DMA, today at $1,729. As such, the upside potential remains limited as expectations of more interest rate hikes by the Fed will continue to cap further gains. The XAUUSD pair was last seen changing hands around $1,725, unchanged on the day. In the immediate term, the metal needs to hold above $1,720 and retest the mentioned moving average in order to stay afloat.

Tags: DollarEURUSDfedGBPUSDGoldUSUSDUSDJPYXAUUSD
Share5Tweet3
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
Investors spooked by strong US data
Fundamental analysis

Investors spooked by strong US data

December 23, 2022 11:55
11
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

Leave Your Opinion Cancel reply

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

Recommended

Stocks turn positive to start the week, currencies muted

Stocks turn positive to start the week, currencies muted

February 1, 2021 05:42
14
Stocks in a sea of red, euro extends the retreat

Stocks, euro turn positive as USD demand keeps abating

October 17, 2022 07:16
19
Pound corrects higher due to dollar weakness

Dollar demand wanes after modest recovery attempts

December 9, 2020 08:31
16

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