With haven flows continuing to unwind, the USD has been on the ropes, but I feel the case for further underperformance has yet to be made. This will become more apparent with concrete peace talks.
Right now, the technicals suggest USD buyers could enter the fray. The monthly scale shows buyers and sellers squaring off at a channel support, extended from the low of 72.70. You will note that price has been swinging between this ascending support and an overhead resistance level from 99.67 since mid-2025, and, as you can see, is nearing the apex of these levels, meaning a breakout could soon be on the table. Above, the 50-month SMA calls for attention around 103.05, while below, support is at 94.79, closely shadowed by a 200-month SMA at 92.55.
Across the page on the daily chart, a decision point zone at 97.36-97.89 converges with the noted channel support on the monthly timeframe. This is a clear area of multi-timeframe confluence, which could prompt a recovery back up to at least the 200-day and 50-day SMAs between 98.52 and 98.70, respectively.
Written by FP Markets Chief Market Analyst Aaron Hill
Right now, the technicals suggest USD buyers could enter the fray. The monthly scale shows buyers and sellers squaring off at a channel support, extended from the low of 72.70. You will note that price has been swinging between this ascending support and an overhead resistance level from 99.67 since mid-2025, and, as you can see, is nearing the apex of these levels, meaning a breakout could soon be on the table. Above, the 50-month SMA calls for attention around 103.05, while below, support is at 94.79, closely shadowed by a 200-month SMA at 92.55.
Across the page on the daily chart, a decision point zone at 97.36-97.89 converges with the noted channel support on the monthly timeframe. This is a clear area of multi-timeframe confluence, which could prompt a recovery back up to at least the 200-day and 50-day SMAs between 98.52 and 98.70, respectively.
Written by FP Markets Chief Market Analyst Aaron Hill
Anmerkung
The daily decision point is holding ground for now. All eyes are now on the surrounding developments in the Middle East to determine direction. AHAnmerkung
Trade is holding well and is now above the 200-day SMA
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.