Greenback fails to seal the deal in opposition to the commodity currencies this week

I already outlined the technical predicament for AUD/USD earlier here. And the charts for USD/CAD and NZD/USD are additionally pointing to an absence of technical comply with by means of by greenback bulls on the week.

Within the case of USD/CAD, the pair did handle a push above its 200-day shifting common (blue line) however is in the end seeing that falter immediately. That’s much like AUD/USD as highlighted within the linked put up above. For USD/CAD, the ceiling seems to be on the 50.0 Fib retracement stage at 1.3538 on the week.

In any case, the autumn again beneath the 200-day shifting common of 1.3480 is the extra important improvement in buying and selling immediately. And similar to AUD/USD, the near-term bias can be shifting as worth falls beneath the 100-hour shifting common of 1.3483 presently.

Seeking to NZD/USD:

There was a push beneath 0.6100 throughout the week however it fell quick in breaching the 200-day shifting common (blue line). That coincides with the December low, which was additionally defended by the important thing stage.

As such, patrons are very a lot nonetheless within the recreation. And despite the fact that the near-term chart is favouring sellers for now, the flip in broader market sentiment and resilience amongst different commodity currencies may assist to translate to raised fortunes for the kiwi.

Both approach, the actual fact is that patrons have a transparent line within the sand to make their stand now. And that’s the 200-day shifting common at 0.6089.

To sum up, the greenback did make a robust case for a run increased in opposition to the commodity currencies this week. Nevertheless it appears like it’s falling quick in sealing the deal as we wrap issues up earlier than the weekend. Or is there time for yet another twist within the story?