• Latest
  • Trending
  • All
Euro rejected from fresh highs, yen demand persists

Euro still lacks the upside momentum, USD stuck at 111.50

March 25, 2020 12:21
Dollar lacks upside momentum due to lower Treasury yields

USD demand persists across the market

August 16, 2022 06:49
Euro rises despite а stronger dollar

Risk mood turns more measured, euro threatens parity again

August 16, 2022 06:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar buoyed at the start of the week

August 15, 2022 05:39
Investors stay nervous as tensions escalate

Investors start the week on a cautious note

August 15, 2022 05:25
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off selling pressure

August 12, 2022 09:58
Equity markets mixed ahead of the weekend

Markets struggle for direction ahead of the weekend

August 12, 2022 09:42
Dollar lacks upside momentum due to lower Treasury yields

USD stays depressed after plunge on weak CPI

August 11, 2022 09:37
Stocks climb marginally, pressuring the greenback

Investors welcome cooling inflation, dollar sags

August 11, 2022 09:30
Dollar lacks upside momentum due to lower Treasury yields

FX market remains in consolidation mode

August 10, 2022 09:24
Yellen failed to spook global markets

Risk-off tone dominates global markets

August 10, 2022 09:18
Dollar lacks upside momentum due to lower Treasury yields

Currencies apathetic, USD stays pressured

August 9, 2022 15:28
Stocks making recovery attempts, markets remain unstable

Stock markets little changed amid cautious trades

August 9, 2022 15:21
  • Terms & Сonditions
  • Contact
Tuesday, August 16, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

    A mixed start to the week in the global markets

    Markets mixed after strong US jobs data

    Stock markets rebound on strong corporate earnings

    Markets look tepid ahead of NFP data

    Investor sentiment looks neutral at the start of the week

    Risk sentiment turns positive, but caution persists

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Euro still lacks the upside momentum, USD stuck at 111.50

Euro still lacks the upside momentum, USD stuck at 111.50

The common currency fails to make a clear break above the 1.09 handle which acts as the key immediate resistance

by Joseph Deen
March 25, 2020 12:21
in Technical analysis
0
Euro rejected from fresh highs, yen demand persists

EURUSD 
EURUSD extends gains for a fourth consecutive day on Wednesday. However, the pair still lacks the upside momentum to make a clear break above the 1.09 handle which acts as the key immediate resistance. The euro was rejected from intraday highs around 1.0850 and has been challenging the 1.08 intermediate support since then. The daily RSI shows only a modest upside bias, suggesting the bullish momentum is fading. Moreover, the inability to retest the above-mentioned resistance points to the growing bearish risks in the short term. So, once below, the pair will first target the 1.0760 area, where the daily lows lie. 

GBPUSD
Cable registered one-week highs around 1.1970, from where the pair had to retreat as the momentum has faded partially. Nevertheless, GBPUSD remains elevated and may resume the ascent after a pause should the prices manage to hold above 1.18 in the short term. Otherwise, the key support is expected at 1.1730. In the four-hour charts, the pair is flirting with the 50-SMA while the RSI pointing slightly lower in the neutral territory, suggesting the pound may extend the retreat in the immediate term before the bulls reenter the game. On the upside, GBPUSD needs to overcome the 1.20 handle so that to confirm the latest bullish breakthrough. 

USDJPY
The pair continues to cling to the 111.50 figure since late last week. The greenback lacks the upside momentum to challenge the 111.70 resistance and at the same time, further holds above the key moving averages that act as support levels. On the downside, the key support arrives at 109.50, as a break below it will open the way towards the 109.00, 108.30, and 107.70, where the 100-, 200-, and 20-DMAs lie, respectively. At the moment, the current dynamics in the pair looks neutral as long as the prices stay above 111.00.

EURJPY
The cross briefly jumped to early-March highs marginally below 121.00 and has retreated partially since then. The pair has been rising for the fifth day in a row already, and it looks like the euro may challenge the 121.00 level, as the daily RSI continues to point upwards, and the pair is now above the key moving averages. However, should EURJPY fail to hold above 120.00 in the current bearish correction, it will be a sign of a weakening upside momentum. On the weekly timeframes, the general picture still looks bearish as long as the prices stay below the 100- and 200-SMAs around 124.00. 

NZDUSD
The kiwi retains its upside bias since late last week. The pair rose to five-day highs earlier in the day but failed to confirm a break above the 0.59 handle and has lost some traction as a result. Nevertheless, the daily RSI continues to point north and has recently recovered from the oversold territory, suggesting the prices may yet regain the above-mentioned highs after a local retreat should NZDUSD manage to hold above the 0.58 figure in the near term. Otherwise, the Kiwi may signal the beginning of a bearish correction. In this case, traders’ focus will shift back to the 0.5720 important support zone. 

Tags: EURJPYEURUSDGBPUSDNZDUSDUSDJPY
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

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD demand persists across the market

August 16, 2022 06:49
13
Euro rises despite а stronger dollar
Fundamental analysis

Risk mood turns more measured, euro threatens parity again

August 16, 2022 06:42
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar buoyed at the start of the week

August 15, 2022 05:39
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar tries to shrug off selling pressure

August 12, 2022 09:58
17
Equity markets mixed ahead of the weekend
Fundamental analysis

Markets struggle for direction ahead of the weekend

August 12, 2022 09:42
22
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD stays depressed after plunge on weak CPI

August 11, 2022 09:37
18

Leave Your Opinion Cancel reply

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

Recommended

Tech analysis

Trade of the Day: GBP/JPY

February 10, 2020 10:30
26
Dollar lacks upside momentum due to lower Treasury yields

Greenback decides on direction after four days of gains

April 5, 2022 05:13
14
Stocks rally across the board amid stimulus hopes

Slow start to a busy week

April 26, 2021 05:31
14

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