The U.S. dollar pauses after Tuesday’s strong rally, but the lack of follow-through to the upside doesn’t necessarily signal a loss of conviction in its bullish outlook.
The absence of follow-through to the upside does not necessarily signal that the bulls are losing conviction or are throwing in the towel, but may be a signal of a pause in the uptrend after the strong rally seen this year. After all, trends rarely proceed in a linear fashion without interruption.over the past month means that the Fed could delay the start of its easing cycle and only cut rates modestly when the process starts. Such a scenario could bias yields higher, keeping the U.S.
For a comprehensive analysis of the euro’s medium-term prospects, make sure to download our Q1 trading forecast today. The guide is free!recapturing the 1.0720 level. If the rebound gains momentum in the coming days, resistance appears around the 1.0800 handle. On further strength, all eyes will be on the 200-day simple moving average.
USD/CAD paused on Wednesday following Tuesday’s big rally, with prices attempting to consolidate above the 100-day simple moving average. If the advance resumes over the next day days, overhead resistance emerges at 1.3570. From this point, subsequent gains could bring 1.3620 into focus.
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