The strength of the US dollar continues to be seen across the board. That’s where USD / CHF is, which is targeting the mid-July high of last year at 0.9467, explains Axel Rudolph, technical analyst at Commerzbank. Key statements: “The USD / CHF has passed the June 23 low of 0.9421 above which the mid-July […]
Tag: Foreign exchange
NZD / USD bounces off 0.6960 and rises to the 0.7000 zone
Kiwi maintains limited recovery but shows signs of stabilization. The dollar falls due to bond stability and corrects down. Ahead: ADP employment data and Biden stimulus plan presentation. NZD / USD is rising modestly on Wednesday and is trading just below 0.7000, after having bottomed out in European hours at 0.6962. The rise to 0.6999 […]
The 1.1700 zone supports the decline … for now
EUR / USD recovers from the new 2021 lows at the 1.1700 area. Lower down is the November 2020 low near 1.1600. EUR / USD bounces from yearly lows near 1.1700, manages to regain some traction to the upside and retests the 1.1750 region on Wednesday. Meanwhile, sellers remain in control of the price action […]
Limited downward correction around 92.50
The DXY index hits 2021 highs near 93.50 on Wednesday. A corrective pullback could extend to the 200-day SMA. The DXY index is under some selling pressure after hitting new yearly highs in the 93.40 / 50 region on Wednesday. While a continuation of the uptrend looks likely on the near-term horizon, the proximity of […]
Higher up it points to yearly highs near 130.70
EUR / JPY manages to climb back to the 130.00 region. The 2021 highs near 130.70 appear as the next target on the upside. The EUR / JPY cross extends Tuesday’s gains and flirts with the key barrier at the round level of 130.00 on Wednesday. The recovery appears firm and initially targets the intermediate […]
EUR / USD looks firm and rises to the 1.1740 region
EUR / USD regains composure and bounces off recent lows. No change in the German unemployment rate in March. Investor attention is expected to revolve around Biden’s speech. The common coin smiles again and pushes the EUR / USD pair to the 1.1740-50 zone on Wednesday. EUR / USD focuses attention on Biden and the […]
AUD / USD clings to modest gains above 0.7600 level, rally appears limited
A modest USD pullback from multi-month highs helps AUD / USD gain traction on Wednesday. The optimistic US economic outlook should help limit the USD’s slide and limit the pair’s gains. The US economic calendar and President Biden’s spending plan could create some business opportunities. The pair AUD/USD It has moved higher at the start […]
US Dollar DXY Index Loses Momentum Near 93.50, Focus Is on Biden and Data
The DXY index moves to new 2021 highs near 93.50, then pulls back. President Biden will speak later today about the additional stimulus. The ADP report takes center stage on the American economic calendar. The US dollar DXY index, which measures the strength of the dollar against a basket of major currencies, alternates gains with […]
GBP / USD rises above 1.3750 after UK GDP, lacks continuation
A combination of factors helps GBP / USD gain positive traction on Wednesday. Better than expected UK fourth quarter GDP figures provide a modest boost to the British pound. A modest USD pullback from multi-month highs continues to support the pair’s bullish move. The pair GBP/USD has rallied around 40 pips in reaction to an […]
Testing the 111.00 level amid fiscal year-end flows in Japan, higher US yields, and a bullish technical outlook
USD / JPY is preparing for a breakout above 111.00 amid favorable technical setup. Higher Treasury yields and fiscal year-end Japanese flows continue to encourage USD / JPY bulls. The focus is on Biden’s infrastructure spending plans and returns. USD / JPY’s vertical rise extends for the sixth day in a row on Wednesday, as […]
