Key Technical Analysis: Impact of Dollar Resilience on Key Levels

Friday, 22 March 2024, 04:30

The dollar showcased resilience after the post-Fed reaction, erasing previous losses. EUR/USD tests its 200-day moving average, while GBP/USD faces a crucial test at its 100-day moving average. USD/JPY near 2022 highs with upside pressure. Market sentiment points to the dollar gaining momentum despite setbacks.
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Key Technical Analysis: Impact of Dollar Resilience on Key Levels

Market Resilience and Technical Key Levels

The market post-Fed reaction signals a rebound for the dollar, erasing prior losses.

EUR/USD Movement

  • Key Level: 200-day moving average at 1.0838
  • Break Below: Sellers gain control, targeting 1.0800
  • Buyers defend above for momentum into the next week

GBP/USD Scenario

  1. Critical Support: 100-day moving average at 1.2630
  2. Buyers need to protect this level for further upside potential
  3. Important region: 1.2593-30 key support area

USD/JPY Outlook

  • Resistance Level: 2022 and 2023 highs at 151.90-94
  • Current upside pressure and Tokyo's role in market momentum

Market sentiment suggests dollar resilience may continue, watch technical levels closely for confirmation.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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