Will the U.S. dollar, which has been facing resistance at higher levels, attempt to rise? We’ll be watching closely.

Will the U.S. dollar, which has been facing resistance at higher levels, attempt to rise? We’ll be watching closely.

27.01.2023

In the previous session, the U.S. dollar saw mixed trading against the pound, with GBP/USD ranging between 1.2340 and 1.2430. On the daily chart, GBP/USD appears to be forming a double top after breaking above the 200-day SMA. Since the 75-day MA is acting as a key resistance level on the weekly chart, we will be watching closely to see if the dollar gains ground during U.S. trading hours.

European currencies saw the euro weaken against the U.S. dollar, with the EUR/USD pair falling by about 80 pips from 1.0928 to 1.0848.Yesterday’s pullback brought the EUR/USD pair back to levels seen two weeks ago, with the Bollinger Bands on the 4-hour chart entering a sideways phase. On the daily chart, the RSI is showing signs of divergence, so traders should be cautious of a potential decline in the EUR/USD during European trading hours.

Today, at 4:00 p.m. CET, Norway’s retail sales and Sweden’s retail sales will be released,at 4:30 PM, the Hungarian unemployment rate; at 4:45 PM, the French consumer confidence index; and at 9:00 PM, the trade balance. During U.S. trading hours, at 10:30 PM, U.S. personal income and the U.S. core PCE deflator are scheduled, followed by pending home sales and the University of Michigan consumer sentiment index at midnight, and the Canadian fiscal balance at 1:00 AM.With the US dollar facing resistance on the upside, we will carefully monitor whether it attempts to rally.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?