Forex, video, latest February 23, 2021 3:01 pm
EUR/USD trades at its highest since a end of January as a USD holds on a edge after yesterday’s fall
a pair managed a close above daily resistance of 1.2150 yesterday also is now trading at its highest levels inside a month, around 1.2170-75 on a session.
There is some swing region resistance as well as a 61.8 retracement level of a swing move lower to start a year, offering a technical impediment for buyers around a region of 1.2178-96 though for a time being.
That said, a USD is keeping inside a vulnerable spot also if that gives way, us could become on course to retest a highs closer to 1.2300 once again.
Looking across a board, GBP/USD is keeping a break of 1.4000, AUD/USD stays poised inside a hunt towards 0.8000, also USD/CAD is at its lows for a year below 1.2600.
Even a upside push inside USD/JPY has lost much confidence after having tested a 105.00 handle earlier today, although buyers are hanging on for now.
Elsewhere, NZD/USD is also trading at its highest levels for a year as buyers look to hold a break above 0.7300 inside find of fresh highs since April 2018.
Fed chair Powell’s testimony inside Congress become become a key highlight inside trading today but I don’t expect to hear anything different from what us has heard from himself or Fed speakers since a start of a year.
One thing to watch is perhaps Powell might made further mention on inflation also yields. However, besides that, nothing should change with regards to their monetary policy view/outlook i.e. lower rates for an extended period of time.
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