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Day: September 21, 2020
September 212020
US Dollar Spikes As Investors Flee Market Selloff, Seek Safe-Haven Shelter
The US dollar is rallying against most of its currency competitors to kick off the trading week. The greenback, which has cratered about 10% since peaking at 103.00, is extending its gains in September as investors flee the broader financial market selloff and seek shelter in a traditional safe-haven asset. The rising number of new COVID-19 infections has eaten away at risk appetite. With the upcoming cold and flu season on the horizon, many […]
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September 212020
AUD/USD Challenged by the 0.7320 Resistance Area
The Australian versus the US dollar currency pair wants to continue the appreciation, but it seems to be limited by the 0.7320 resistance. Is this the end of the road for the bulls? Long-term perspective The rally that came about after the strong retracement from the 0.5701 low, which validated the 0.5516 support, started an ascending movement that extended until the .07413 high. The high is part of what appears to be a false piercing of the 0.7320 firm […]
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