Action Insight Daily Report 9-23-22

Dollar and Yen Staying Strong on Risk-Off Sentiment

Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among the worst performers together with New Zealand Dollar.

Technically, as long as some levels hold, there is prospect for Dollar to extend recent rally before weekly close. the levels include 0.9943 minor resistance in EUR/USD, 0.6698 minor resistance in AUD/USD, 0.9694 minor support in USD/CHF, and 1.3343 minor support in USD/CAD. But that would depend very much on how risk market flares.

In Asia at the time of writing, Hong Kong HSI is down -0.85%. China Shanghai SSE is down -1.08%. Singapore Strait Times is down -0.83%. Japan is on holiday. Overnight, DOW dropped -0.35%. S&P 500 dropped -0.84%. NASDAQ dropped -1.37%. 10-year yield rose 0.198 to 3.708.

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3417; (P) 1.3480; (R1) 1.3552; More...

USD/CAD's rally is still in progress and intraday bias stays on the upside. Current up trend should target medium term fibonacci level at 1.3650. On the downside, below 1.3343 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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