The U.S Dollar Continues Strength Over Major Peers

• 1 Mar 2018

GBP/USD

The GBP/USD pair has broken a recent support level at the 1.378 price line. A recent break of the 20- period EMA gives further weight to the bearish move. Momentum indicators confirm bearish momentum with an imminent break of the zero line on MACD.

Impact event: ISM Manufacturing PMI data will be released and Chairman Powell will speak at 17:00 GMT+2 which will impact all USD pairs.

USD/CHF

The USD/CHF pair has broken the 0.942 price level to the upside as the U.S. Dollar finds support. MACD is approaching the zero line and RSI has a sharp upward trajectory. A break of the zero line on MACD would provide further weight to the current bullish move.

USD/CAD

The USD/CAD has reached overbought conditions repeatedly testing the upper Bollinger band and hitting the 70 resistance line on RSI. There are a few resistance areas at the 1.287 and 1.289 price levels, however the question is whether U.S. Dollar buyers have the conviction to push prices higher.

AUD/USD

The AUD/USD pair has broken the lower Bollinger band and the zero line on MACD. According to momentum indicators there is room for further downside as the RSI approaches the zero line and MACD extends its bearish trajectory.