{"id":73491,"date":"2023-11-20T11:14:24","date_gmt":"2023-11-20T09:14:24","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=73491"},"modified":"2025-12-11T16:34:30","modified_gmt":"2025-12-11T14:34:30","slug":"usd-continues-to-weaken-3","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/ph\/usd-continues-to-weaken-3\/","title":{"rendered":"USD continues to weaken"},"content":{"rendered":"<p>In an easy-going Monday, the USD continued to weaken against its counterparts, as the market\u2019s expectations that the Fed has reached its terminal rate and its next move is to be a rate cut next year, tended to intensify. Fed policymakers tended to remain rather split, yet we see the balance of power increasingly tilting towards the cautious side, which is in accordance with the market\u2019s expectations. Currently, Fed Fund Futures tend to imply that the market expects the bank to remain on hold until May 24 and proceed with a rate cut, a scenario though that may be over-optimistic on the market\u2019s side. For today given the lack of high-impact financial releases from the US, we expect the USD to be led by fundamentals.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"RBA November meeting minutes due out tomorrow\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/SCX5plsiNC4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>\u03a4he USD retreated against the JPY and the pair broke the 150.10 (R1) support line, now turned to resistance. We tend to maintain a bearish outlook for the pair, as long as it\u2019s price action remains below the downward trendline which steepened its slope since the 17<sup>th<\/sup> of November. Furthermore the RSI indicator is just below the reading of 30, implying a strong bearish sentiment, yet may also be warning that the pair may have reached oversold levels and may be ripe for a correction higher. Similar signals come from the fact that the price action is flirting with the lower Bollinger band. Should the bears maintain control over the pair, we may see it breaking the 148.25 (S1) support line and aim for the 147.25 (S2) support level. For a bullish outlook, we would require the pair to break the prementioned downward trendline in a first signal that the downward motion has been interrupted, break the 150.10 (R1) resistance line and aim for the 151.70 (R2) level.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Aussie traders on the other hand are expected to keep a close eye on the release of RBA\u2019s November meeting minutes during tomorrow\u2019s Asian session while also RBA Governor Bullock is scheduled to speak. Should the document include a more hawkish tone we may see the Aussie getting some support, while a positive market sentiment may also provide some support to the riskier AUD.&nbsp;<\/p>\n\n\n\n<p>AUD\/USD rose and during today\u2019s Asian session broke the 0.6515 (S1) resistance line, now turned to support. We tend to maintain a bullish outlook for AUD\/USD as long as the upward trendline incepted since the 14<sup>th<\/sup> of November remains intact. The RSI indicator is at the reading of 70, implying a strong bullish sentiment yet may also be a warning that the pair is near overbought levels and may be ripe for a correction lower. Similar signals are being sent by the price action flirting with the upper Bollinger band. Should the bulls maintain control over the pair, we may see AUD\/USD breaking the 0.6620 (R1) resistance line and aim for the 0.6725 (R2) resistance level. Should the bears take over, we may see AUD\/USD breaking the prementioned upward trendline, the 0.6515 (S1) support line and aim for the 0.6400 (S1) level.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>No major financial releases are expected today, yet we note the release of New Zealand\u2019s trade data for October just before the Asian session starts. On a monetary level, we note that BoE Governor Andrew Bailey and Bank of France Governor De Galhau are scheduled to speak.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>We make a late start on Tuesday with Canada\u2019s CPI rates for October, and on Wednesday we get UK\u2019s CBI trends for November, from the Eurozone the preliminary Consumer confidence for the same month and from the US, October\u2019s durable goods orders and the weekly initial jobless claims figure. On Thursday we get November\u2019s preliminary PMI figures of Australia, France, Germany, the Eurozone and the UK, as well as Norway\u2019s GDP rate for Q3 and on Friday we get the November preliminary PMI figures of Japan and the US as well as Japan\u2019s CPI rates for October, Germany\u2019s Ifo indicators for November and Canada\u2019s September retail sales growth rate. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-4-hour-chart\"><strong>USD\/JPY 4 Hour Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/11\/image-101.png\" alt=\"support one hundred and forty-eight point twenty five and resistance at one hundred and fifty point one, direction downwards s   \" class=\"wp-image-73492\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 148.25 (S1), 147.25 (S2), 145.90 (S3)<\/p>\n\n\n\n<p>Resistance: 150.10 (R1), 151.70 (R2), 153.35 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-4-hour-chart\"><strong>AUD\/USD 4 Hour Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/11\/image-102.png\" alt=\"support at zero point six five one five and resistance at zero point six six two, direction upwards   \" class=\"wp-image-73493\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6515 (S1), 0.6400 (S2), 0.6285 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6620 (R1), 0.6725 (R2), 0.6820 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"496\" src=\"\/wp-content\/uploads\/2023\/11\/image-103.png\" alt=\"\" class=\"wp-image-73494\" title=\"benchmark-20-11-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1096\" height=\"638\" src=\"\/wp-content\/uploads\/2023\/11\/image-105.png\" alt=\"\" class=\"wp-image-73496\" title=\"table-20-11-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"990\" src=\"\/wp-content\/uploads\/2023\/11\/image-104.png\" alt=\"\" class=\"wp-image-73495\" title=\"morning-releases-20-11-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>In an easy-going Monday, the USD continued to weaken against its counterparts, as the market\u2019s expectations that the Fed has<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-73491","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USD Continues To Weaken Amid Fed Cut Expectations<\/title>\n<meta name=\"description\" content=\"USD continues to weaken as markets price in 2024 Fed rate cuts, while JPY and AUD react to sentiment and key data later this week.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/ph\/wp-json\/wp\/v2\/posts\/73491\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD continues to weaken\" \/>\n<meta property=\"og:description\" content=\"USD continues to weaken as markets price in 2024 Fed rate cuts, while JPY and AUD react to sentiment and key data later this week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/ph\/usd-continues-to-weaken-3\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-20T09:14:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T14:34:30+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"USD continues to weaken\",\"datePublished\":\"2023-11-20T09:14:24+00:00\",\"dateModified\":\"2025-12-11T14:34:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/\"},\"wordCount\":777,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"tl\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/\",\"name\":\"USD Continues To Weaken Amid Fed Cut Expectations\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#website\"},\"datePublished\":\"2023-11-20T09:14:24+00:00\",\"dateModified\":\"2025-12-11T14:34:30+00:00\",\"description\":\"USD continues to weaken as markets price in 2024 Fed rate cuts, while JPY and AUD react to sentiment and key data later this week.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/#breadcrumb\"},\"inLanguage\":\"tl\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/usd-continues-to-weaken-3\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USD continues to weaken\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/ph\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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