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

Dollar rallies across the board due to risk aversion

September 16, 2022 08:26
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 » Dollar rallies across the board due to risk aversion

Dollar rallies across the board due to risk aversion

by Joseph Deen
September 16, 2022 08:26
in Technical analysis
0
Dollar lacks upside momentum due to lower Treasury yields

The pound saw another sell-off that has pushed the prices below March 2020 lows

EURUSD

As risk aversion intensified, the dollar stays resilient on Friday, accelerating the ascent to challenge the 110.00 zone during the European trading hours. The USD index jumped to 110.25 before retreating marginally in recent trading. As such, EURUSD came back under pressure after two days of modest gains. During the recent bounce, the shared currency failed to hold above both parity and the descending 20-DMA, today at 0.9984. The euro fell below the 0.9955 region to extend losses to 0.9944. The pair is likely to stay pressured in the short term after a strong rejection from the 1.0200 figure at the start of the week. On the four-hour charts, the shared currency stays below the key simple moving averages while the RSI points lower, suggesting the pair could struggle to regain parity in the immediate term. On the upside, the nearest target now arrives at 0.9965.

GBPUSD

GBPUSD plunged back below 1.1500 after another failed attempt to overcome the descending 20-DMA earlier in the week. On Friday, the pound saw another sell-off that has pushed the prices below March 2020 lows, down to 1.1350. The cable was last seen clinging to the lower end of the extended trading range, losing nearly 1% on the day. In the near term, GBPUSD needs to hold above 1.1300 on a daily closing basis in order to avoid a deeper retreat. On the upside, should the cable resume its recovery, the nearest target could be expected around 1.1400, followed by the 1.1465 zone and the mentioned 1.1500 level. On the hourly timeframes, the RSI has settled in oversold territory but continues to point south, suggesting the selling pressure could persist in the near term. As such, traders now shift focus towards the 1.1300 next bearish target.

USDJPY

USDJPY advanced marginally on Thursday to finish slightly above the 143.50 zone. As the dollar failed to regain the 144.00 figure, the pair struggles ahead of the weekend, albeit the selling pressure looks limited due to the overall bullish sentiment surrounding the US currency. USDJPY was last seen changing hands 143.35, down 0.1% on the day. In a wider picture, the pair keeps holding well above the ascending 20-DMA, today at 140.67, with broader uptrend intact. In the near term, USDJPY needs to hold above the 143.00 mark for the bullish momentum to persist. Should the buying pressure surrounding the US dollar intensify further, a decisive rally above 144.00 could be expected. On the four-hour charts, the greenback struggles to regain the ascending 20-SMA, albeit holding relatively steady at this stage.

XAUUSD

The price of gold has been losing ground for the sixth week in a row as hawkish Fed remains in focus. The precious metal failed to hold above the descending 20-DMA at the start of the week to accelerate the decline recently. In the process, the bullion derailed the $1,700 psychological level to notch April 2020 lows around $1,660 ahead of the weekend. The XAUUSD pair keeps clinging to the lower end of the range, suggesting extra losses could be in store. A failure to attract demand at the current levels would pave the way to fresh long-term lows in the $1,610-1,600 zone in the coming days or weeks. It seems like gold prices could stay on the defensive in the months ahead as the Fed along with other central banks will continue tightening. A reversal in the gold market would take place once the US monetary authorities start reversing the rate hikes at some point in the future, probably in Q3 next year.

Tags: DollarEURUSDfedGBPUSDGoldUSUSDUSDJPYXAUUSD
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
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

Markets on the defensive ahead of FOMC

Markets on the defensive ahead of FOMC

March 17, 2021 04:34
16
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
Markets shrug off rising US inflation

Global markets pressured by Fed’s hawkishness

November 3, 2022 03:41
21

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