USD shopping for continues its march. New highs for the dollar versus most main currencies

Greenback shopping for is constant in all the main currencies. The dollar is making new highs versus all however the AUD because the day takes towards the shut.

EURUSD: The EURUSD has damaged decisively decrease, falling beneath each the 200- and 100-hour transferring averages previously two hours with out a lot corrective retracement. Promoting strain has additionally pushed the pair under the converged 100- and 200-bar transferring averages on the Four-hour chart close to 1.1640, in addition to the 50% midpoint of the July buying and selling vary at 1.16098.

The most recent low touched 1.16019, placing the highlight on final week’s low at 1.15816 and the prior week’s low at 1.15885. These ranges now type the subsequent key draw back targets that merchants shall be eyeing.

USDJPY: The USDJPY has pushed again above each its 200- and 100-hour transferring averages at 147.49 and 147.646, easing among the bearish strain from Friday’s sharp decline. The main target now shifts to a swing space between 147.95 and 148.166, which additionally contains the 38.2% retracement of the August buying and selling vary at 148.00. A break by way of that zone would strengthen the bullish bias and open the door to additional restoration.

GBPUSD: The GBPUSD has slipped again under its 100-hour transferring common and the 50% midpoint of the July buying and selling vary at 1.3464, shifting the near-term bias in favor of sellers. Holding under that degree shall be key in protecting draw back momentum intact.

On the draw back, the 100-day transferring common at 1.34214 is the subsequent important goal. Final Friday—simply forward of Powell’s speech—the pair briefly fell under that degree for the primary time since August 7, solely to snap again greater on the headlines. A return under the 100-day common this time would add to the bearish tilt and reinforce vendor management.

Already, at this time’s break beneath each the 200- and 100-hour transferring averages has tilted the short-term bias extra firmly towards the draw back.

USDCAD: The USDCAD is rebounding from assist between 1.38127 and 1.38315, with the pair now buying and selling close to 1.3860. On the upside, the instant goal is available in on the August 1 excessive at 1.38785, adopted by a swing space between 1.3891 and 1.3904. Past that sits the 38.2% retracement at 1.39229—a degree that capped features simply forward of Powell’s speech on Friday, when sellers reemerged.

On the draw back, it will take a break again under 1.38127 and the rising 100-bar MA on the Four-hour chart at 1.38018 to shift the bias extra convincingly towards sellers. Till then, consumers preserve the near-term edge.

This text was written by Emma Wang at investinglive.com.