OctaFX | OctaFX Forex Broker
Open trading account

Dollar under pressure against most rivals - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that the USD remains under pressure against most major currencies on Tuesday, following the news of US air strikes against ISIS in Syria.

Key quotes

"US Yields turned broadly lower fueling the greenback slide across the board, with the EUR/USD surging up to 1.2886 so far, and despite European PMI readings resulted again disappointing."

"Technically, the 4 hours chart shows price barely above a flat 20 SMA and indicators having recovered some ground but still below their midlines, showing no real upward momentum at the time being."

"Nevertheless, as long as above 1.2865 now, the upside is favored towards 1.2920 price zone, next strong resistance."

"A break below mentioned support on the other hand, should see the pair returning to its recent lows around 1.2820, while a break below 1.2810 should see the pair resuming the downside towards 1.2740 price zone."

EUR/USD rallies despite Eurozone PMI weakness

EUR/USD has rallied through the morning session after further weak Eurozone data prompted euro bears to book profits.
Read more Previous

Brent up modestly, WTI slides

Independent Analyst Malcolm Graham-Wood remarks that Brent crude oil price rose on Tuesday on better than expected Chinese PMI, while WTI was less popular and dropped.
Read more Next
Start livechat