This article analyzes the outlook for the U.S. dollar, focusing on three of the most traded currency pairs: EUR/USD, USD/JPY and GBP/USD. Key tech levels worth keeping an eye on in the coming days are discussed in depth.
Eager to discover what the future holds for the U.S. dollar? Delve into our quarterly forecast for expert insights. Get your complimentary copy now!Looking ahead to potential catalysts, next week's highlight on the U.S. economic calendar will be the release of the core PCE deflator, the Fed’s favorite inflation gauge. With many international markets shuttered for Good Friday, the true reaction to the data might not be entirely evident until Monday.
On the other hand, if bulls mount a comeback and spark a rebound, resistance can be identified in the 1.0835-1.0850 band. In the event of a bullish push past this range, attention will be directed towards the 100-day simple moving average, followed by 1.0890 and 1.0925 in case of sustained strength.jumped this week, coming within striking distance from retesting its 2023 peak near 152.00.
Conversely, in a scenario where sentiment brightens and cable stages a reversal, resistance thresholds can be pinpointed at 1.2675 and 1.2700 thereafter. Bulls may have a hard time taking out these barriers, yet if they manage to invalidate them, there would be little standing in the way of reclaiming the 1.2800 mark.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
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