Should we watch for the U.S. dollar to test new lows as it hits a new low?

Should we watch for the U.S. dollar to test new lows as it hits a new low?

17.03.2026

In the U.S. currency market yesterday, the U.S. dollar remained the weakest currency throughout the day, from the start of Asian trading at the beginning of the week through the late U.S. session. The EUR/USD pair rose from 1.1414 to 1.1524, rebounding from the -2σ to +2σ levels of the hourly Bollinger Bands. Similar price action was observed on the 4-hour chart, and on the daily chart, the pair is currently rebounding after breaking below the 200-day EMA support line.

Among European currencies, the Swiss franc saw a seesaw movement against the yen. The CHF/JPY pair traded between 201.114 and 202.205. The hourly RSI rebounded after touching the 30 level. On the 4-hour chart, the 200-period SMA is acting as a support level, while on the daily chart, the pair is continuing its uptrend along the 20-period MA and is in the process of reaching a new all-time high. We will be watching closely to see if the Swiss franc rebounds during today’s European trading session.

Today, the RBA policy rate and statement will be released at 12:30 p.m. (GMT+7), followed by Japan’s Tertiary Industry Activity Index and a press conference by RBA Governor Block at 1:30 p.m. (GMT+7), Switzerland’s Producer Import Prices at 4:30 p.m. (GMT+7), Canada’s Existing Home Sales at 6:00 p.m. (GMT+7), and Germany’sZEW Economic Sentiment Index, and the Eurozone ZEW Economic Sentiment Index; at 11:00 PM, the U.S. Leading Economic Index and U.S. Existing Home Sales; at 12:15 AM, remarks by German Bundesbank President Nagel; at 2:00 AM, the U.S. 20-year Treasury auction; and at 6:45 AM the following day, New Zealand’s Current Account Balance. We will be watching for further downside movement in the U.S. dollar, which has become the weakest currency.