Currency forecast: there is no unity in the Fed regarding the future monetary policy
[ad_1]
The published minutes of the US Fed meeting showed that the regulator’s leadership does not have a unified position on the issue of further tightening of monetary policy. There are serious concerns that a high interest rate and a reduction in the balance sheet may lead to a recession in the economy. In essence, the Fed is choosing the “lesser of two evils” — recession or high inflation. This was reported by RoboForex analyst Andrei Goilov.
Chart of the currency pair EURUSD, D1.
In the EURUSD pair, resistance was formed at 1.0833. Support has not yet appeared and the dollar may strengthen to the level of 1.0655. At the same time, for further growth of EUR, quotes must return above the 1.0762 mark.
Chart of currency pair USDCHF, D1.
In the currency pair USDCHF, the level of resistance has now moved to 0.9062, and support has formed at the level of 0.8942. If the price is fixed above 0.8988, the dollar will be able to rise to the level of 0.9175. Otherwise, it may weaken to 0.8869.
Chart of currency pair AUDUSD, D1.
In the AUDUSD currency pair, resistance is formed at 0.6667, and there is still no clear support level. It is possible that the US dollar will strengthen to 0.6435. A signal to this can be the fixing of quotations below the level of 0.6572.
Chart of currency pair USDJPY, D1.
In the USDJPY currency pair, the support level was marked at 137.54. At the moment, the USD is striving to reach record highs since the beginning of this year. For this, it is necessary to gain a foothold above the level of 138.76.
Chart of currency pair GBPUSD, D1.
Resistance at 1.2485 was formed in the currency pair GBPUSD. When fixed below the level of 1.2392, the pound may weaken to the level of 1.2255.
Chart of currency pair NZDUSD, D1.
A resistance level of 0.6291 was formed in the NZDUSD currency pair, and there is no stable support yet. In the current situation, the US dollar may strengthen to 0.6012.
Chart of currency pair USDCAD, D1.
In the USDCAD currency pair, a support level appeared at 1.3358. Resistance is now at 1.3647. The Canadian dollar weakened against the backdrop of lower oil prices. If the resistance is broken, the USD will strengthen to 1.3805.
Source: Ministry of Finance
Views: 13
[ad_2]
Original Source Link
