Dollar Up, Euro Near One-Month High Over Ukraine War Optimism

Dollar Up, Euro Near One-Month High Over Ukraine War Optimism

U.S. Dollar Index

USD/JPY is trading down 0.02% at 121.756

The dollar was up on Thursday morning in Asia. The euro held at a one-month high against the dollar, after rallying on hopes that the war in Ukraine could be entering a new de-escalating phase. The Japanese yen was set for its worst month since November 2016.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies edged up 0.12% to 97.990 by 12:08 PM ET (4:08 AM GMT).

The USD/JPY pair was up 0.39% to 122.28.

The AUD/USD pair was down 0.29% to 0.7488 and the NZD/USD pair was down 0.24% to 0.6958.

The USD/CNY pair inched up 0.03% to 6.3493. Data released earlier in the day showed that China’s manufacturing purchasing managers index (PMI) was 49.5, while the non-manufacturing PMI was 48.4, in March 2022. The Caixin manufacturing PMI is due on Friday.

The European single currency was at $1.1175, holding its highest in a month, and has gained 1.7%in the week to date.

On technical fronts USD/JPY RSI stood at 71.33 and currently it is trading below 5 days MA & above 10 and 20 days MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : USD/JPY – BUY: 121.754, TARGET: 122.408, STOP LOSS : 121.279

About Author

Related posts

Leave a Reply