The Dollar Loses Strength Over Major Peers

• 22 May 2018

USD/CHF

The USD/CHF pair is testing the low price SMA and a break will cement bearish momentum. MACD is undergoing a momentum reversal and RSI has broken the 70 resistance line to the downside. The dollar appears to be weakening.

USD/CAD

The USD/CAD pair has broken the 1.280 price level and the low price SMA. At the same time, MACD is approaching the zero line and RSI has a downward trajectory.

AUD/USD

The Dollar continues to weaken against its counterpart in Australia. The pair has broken through the high price SMA and simultaneously, MACD is undergoing a momentum reversal. RSI also has a clear upward trajectory in support of the bullish move.

NZD/USD

The NZD/USD pair is making a recovery after a significant sell-off which began in mid- April. The pair has broken through the low price SMA to the upside and RSI has returned from oversold conditions. MACD has flattened in bearish territory which may indicate a momentum reversal is imminent.