Yesterday afternoon, the Fed announced that they would raise interest rates twice by 2023 suggesting a stronger demand for the US dollar.
USDCHF is our hardest mover this morning reaching up to +0.85% at the time of writing this, and similar to USDCAD, the pair is right up against some heavy resistance on the 4H. There could be a potential pullback from recent highs, but a retest on highs will likely happen if price doesn't break resistance on the first try.
Down 0.73% on the morning, NU breaks out under a wedge and falls onto support around 0.70043 which appears to be a key level. Price will likely see further downside, but it could also come up and test resistance around 0.70428. The biggest level of support on this chart is where price bottomed at 0.69420.
EU getting crushed under the weight of the USD and the power of interest rates. Price has fallen to resistance 1.19205 and doesn't look like it wants to hold at this level. Lots of setups going on, and it looks like short entries are good a most resistance levels and breakout levels such as this current one.
9/17/2021 Stocks are down -0.58% this morning after coming down to test a significant level of support once again. While stocks fall, the dollar rises in the anticipation of sooner-than-expected tapering by the Fed along with a hike in interest rates starting in 2022. Our outlook Other than September being one of the worst months […]
9/16/2021 The Euro-Dollar pair is down over 0.5% today after several days in the red. Today's speech by EU president Lagarde mentioned how the economic recovery had come quicker than expected six months ago. This was praised by the prompt vaccine distribution so citizens could get back to work. Across the pond, the US just […]
9/14/2021 This morning's report on CPI m/m and core CPI m/m came in at a lower percentage than expected which resulted in a falling dollar pre-New York session. The USD is now volatile under the uncertainty of potential tapering and rising rates while the equities market seems to be rising because of this. Our outlook […]
9/13/2021 Big money has been moving out of Australia's currency for nearly a month now which has been the biggest drop in long contracts in this amount of time year-to-date. Australia's dollar index (AXY) is up 0.06% at 73.61 on the day after rebounding from the lows around 71.19. Our outlook Australia's economy has surprised […]