USD Stalls: What you Should Know

The US Dollar sold-off on Wednesday, providing other currencies with a boost. It remains to be seen whether this will result in a deeper pullback for the USD, or if it was just a one-off event as the few traders left in the market position themselves for the end of the year.

EUR/USD has been trading in a horizontal channel for the last month, and could now be eyeing a break above its 50-day MA. On the other hand, GBP/USD has been moving higher recently, but still needs to break 1.3500 before it can look to retest its November highs.

Can these two FX majors rally in 2022, or will the USD continue to gain strength in the new year?

Check out the latest article by one of our senior analysts for an in-depth analysis: