• Latest
  • Trending
  • All
Euro struggles below three-month highs, yen demand persists

Dollar demand picks up across the board

March 12, 2020 10:59
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
Sunday, January 29, 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 demand picks up across the board

Dollar demand picks up across the board

The Aussie is approaching multi-year lows registered at the start of the week around 0.63

by Joseph Deen
March 12, 2020 10:59
in Technical analysis
0
Euro struggles below three-month highs, yen demand persists

EURUSD
EURUSD failed to stage a decisive recovery above 1.13 again and gave up early intraday gains. Moreover, the pair derailed the 1.12 handle for the first time in nearly a week, suffering losses for the third day in a row. At the same time, it looks like the selling pressure is limited at this stage, as the euro managed to bounce quickly from the lows and trimmed intraday gains. The daily RSI is pointing slightly lower while all the three moving averages remain neutral, suggesting the downside momentum is not so strong. A daily close above 1.1250 is needed to prevent the symmetrical triangle formation in the days to come.

GBPUSD
GBPUSD plunged to mid-October lows below the 1.26 handle. The pair remains under a heavy selling pressure that has intensified after a break below the 200-DMA that acted as a support earlier. As a result of a massive sell-off, the daily RSI accelerated its decline and has approached the oversold territory. Still, the indicator remains above 30 so far, suggesting further losses may lie ahead in the short term. In case of a bounce, the prices will need to regain the above-mentioned moving average first so that to retarget the 100- and 50-DMAs, coinciding just below the 1.30 handle.

USDJPY
The pair climbed back to the levels around the 105.00 figure that acted as a local resistance and capped the upside attempts. On the downside, the daily low was registered around 103.00, and despite the positive bias in the daily charts, bearish risks persist. Only a daily close above 105.00 will neutralize these risks in the near term. The daily RSI is pointing just slightly upwards, confirming the fragile nature of the bounce from the above-mentioned lows. In the weekly timeframes, the technical picture remains bearish. 

AUDUSD
AUDUSD remains under the selling pressure for the fourth day in a row. On Thursday, the decline has accelerated, with the pair approaching multi-year lows registered at the start of the week around 0.63. if this level fails to act as a support, the Aussie will refresh long-term lows, and market focus will shift to the 0.62 handle. On the upside, the prices need to bounce at least above 0.6430 so that to avoid deeper losses in the short term. The daily RSI is pointing lower but has already reached the oversold territory, suggesting the downside momentum could ease soon. 

USDCAD
USDCAD has been rallying for an eight’s day in a row already and reached the 1.3850 area for the first time in four years. The pair’s upside momentum has accelerated since the start of the week. However, the flat daily RSI is suggesting the bullish momentum may be exhausted soon. Besides, the index has settled in the overbought territory. The dollar is now gradually retreating from fresh tops, flirting with the 1.38 figure. On the other hand, a daily close above this level will confirm the latest bullish breakout. 

Tags: AUDUSDEURUSDGBPUSDUSDCADUSDJPY
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
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
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar resists selling pressure

December 20, 2022 10:44
14

Leave Your Opinion Cancel reply

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

Recommended

Stock markets rebound on strong corporate earnings

Downbeat tone dominates financial markets ahead of the weekend

October 28, 2022 04:12
19
Pound corrects higher due to dollar weakness

Greenback remains strong, pressuring gold prices

September 23, 2020 09:42
13
Hershey profits soar as US binges on sweets during COVID-19 lockdowns

Hershey profits soar as US binges on sweets during COVID-19 lockdowns

November 10, 2020 03:24
11

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