The dollar was flat on Wednesday morning, with the safe-haven asset slowly recovering heavy losses from the previous session over the uncertainty surrounding the latest stimulus measures and, in turn, U.S. economic recovery from COVID-19.
The ongoing impact from the U.S. Federal Reserve’s stimulus programs saw U.S. stock indexes soar to record highs and continues to put pressure on the dollar. The Fed’s intervention in the financial markets to increase liquidity also reduced demand for safe-have assets whilst increasing the appeal of risk assets, despite a bleak picture being painted for the U.S. economic recovery.
TREND : BULLISH
Time : 19/08/2020
Pivot : 1.1926
Technical View : LONG ABOVE 1.1946
Target : 1.1966, 1.1985, 1.2015
Technical View : SHORT BELOW 1.1906
Target : 1.1886, 1.1871, 1.1837