Home Forex Greenback stays within the driver’s seat for now

Greenback stays within the driver’s seat for now

Greenback stays within the driver’s seat for now


A few extra hawkish Fed speak and an extra drop in equities is fueling the subsequent leg larger within the greenback now. The buck noticed a few key technical breaks on the finish of final week however it took some time earlier than they began operating this week. However now that it has, we’re seeing a push to the subsequent set of key ranges.

USD/JPY each day chart

USD/JPY particularly is closing in on testing the 140.00 mark subsequent with extra hawkish Fed speak and a transfer larger in Treasury yields serving to with the temper as properly.

In the meantime, EUR/USD is sinking additional to contemporary lows in two months and constructing on the break under its 100-day transferring common and the 1.0800 mark. GBP/USD can be contesting its 10 April low of 1.2344 and a maintain under that’s more likely to see the pair drop additional in direction of its personal 100-day transferring common at 1.2283 presently.

commodity currencies, USD/CAD can be looking for a breakout of key trendline resistance from its March and April highs, pushing simply above 1.3600 now.

Then, AUD/USD has damaged right down to contemporary lows for the yr in a drop under the help area of 0.6563-73. The 0.6500 degree is the subsequent key goal for the pair. And we even have NZD/USD which is contesting a break under 0.6100 after the sharp fall yesterday, with a break there more likely to see the pair transfer in direction of 0.6000 subsequent.

I am going to put up the person charts within the session forward however for now, the technical indicators are actually favouring the greenback.


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