fbpx

Dollar extends losses as the pressure continues to build

The dollar falls to fresh lows on the day

The greenback is suffering across the board as the pressure builds with USD/JPY now breaking below 106.00 as price action tracks below its 200-hour moving average to a fresh low of 105.73 currently.
Elsewhere, the dollar is not finding any reprieve as we see EUR/USD rise to 1.1920, AUD/USD hit a high of 0.7322, and USD/CAD making fresh seven-month lows @ 1.3063.

Of note, the Bloomberg dollar index highlights yet another key technical breakdown for the greenback as we see price fall below its 18 August low to fresh lows since May 2018.
The market is still largely digesting the repercussions from the Fed’s strategy change but I want to say that month-end rebalancing flows are also not really helping to provide much clarity about the exaggerated moves in the dollar right now.
That said, it is tough to argue with the technicals and things certainly aren’t looking good for the greenback across the board.

Cable is making fresh highs of 1.3295 – the highest level in eight months – and there is little in the way stopping the pair from a move towards 1.3400 next should we see price action hold a break above the 31 December high @ 1.3284, if you go by the chart.

Source: Technical analysis

Share this post

Comments (6)

  • Noreen Reply

    Valuable info. Lucky me I discovered your site
    unintentionally, and I’m surprised why this twist of fate
    did not took place earlier! I bookmarked it.

    12th January 2022 at 9:33 pm
  • Harrison Reply

    It is appropriate time to make some plans for the longer term and it’s time to
    be happy. I have read this submit and if I may just I want to suggest you few fascinating
    issues or suggestions. Maybe you can write subsequent articles referring to this article.
    I want to learn even more things about it!

    13th January 2022 at 3:50 am
  • Nona Reply

    This article is truly a nice one it helps new the web viewers, who are wishing for blogging.

    13th January 2022 at 10:34 pm
  • Dudley Reply

    Excellent post however I was wondering if you could writea litte more on this subject? I’d be very thankful if you could elaborate a little bit further.Kudos!

    13th January 2022 at 10:38 pm
  • Alfredo Reply

    Keep on writing, great job!

    13th January 2022 at 11:26 pm
  • cc dumps shop online Reply

    … [Trackback]

    […] Find More on to that Topic: dayfinanceltd.com/dollar-extends-losses-as-the-pressure-continues-to-build/ […]

    15th January 2022 at 8:06 am

Leave a Reply

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

User Agreement

Day Finance is an educational site and a platform for exchanging Forex information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense.
Terms And Conditions