{"id":35609,"date":"2022-08-03T10:02:41","date_gmt":"2022-08-03T07:02:41","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=35609"},"modified":"2025-12-11T17:10:19","modified_gmt":"2025-12-11T15:10:19","slug":"usds-efforts-to-rebound","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/en\/usds-efforts-to-rebound\/","title":{"rendered":"USD\u2019s efforts to rebound"},"content":{"rendered":"\n<p>Yesterday, the US dollar rose against its counterparts, rebounding from a four-day losing stream following the Federal Reserve\u2019s rate hike decision during last week. The rebound of the greenback was aided by the Chicago Fed President Evans and San Francisco Fed President Daly where they signalled that they and their colleagues remain resolute and united in regard to raising rates to a level where inflationary pressures will be curbed, yet that could also slow down, if not contract economic activity. Also the greenback\u2019s rise yesterday was favoured by the US treasury yields, which were rebounding after the announcement of Pelosi\u2019s arrival in Taiwan. US House of Representatives Speaker Pelosi landed in Taiwan yesterday, to meet with the country\u2019s president, defying Chinese warnings for retaliatory actions and as a consequence escalated the US-China tensions. This visit marks the first time a high-ranking US official visited the island in the past 25 years and market participants brace themselves for turmoil. Should tensions in the US-Sino relationships intensify we may see the USD enjoying some safe haven inflows. In regards to US stock markets, we note the mixed signals sent and highlight today\u2019s and would like to highlight the release of the earnings reports for EBAY, Booking and Moderna among others. Oil closed the day flat yesterday, as oil traders wait in anticipation for the upcoming OPEC meeting, scheduled later today. Even though major exporters such as Saudi Arabia reported capacity constraints last month its it worthwhile keeping an eye on the remarks made by the oil cartel. Also of interest to oil traders is the US EIA Weekly Crude oil inventories figure released later today, which will shed light on the demand side of WTI. Gold finished in the reds yesterday as the US dollar recovered, yet the precious metal seems to be regaining the lost ground in today\u2019s Asian\u2019s session and we consider the next big test for gold to be the release of the US employment report for July on Friday.<\/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=\"Key points 03082022  EN\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/C_mbzvAQcyY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>USDIndex rebounded during yesterday\u2019s session and challenged the 106.30 (R1) resistance line. We hold a bullish outlook bias for the pair as the RSI indicator rests in above the 50 level and points to the upside. Should the bulls reign over, we may see the break of the 106.30 (S1) and move towards the 106.80 (R2) level. Should the bears take over, and for us to change our view, we might need see the break below the 105.10 (S1) support level, heading definitively towards the 104.46 (S2) barrier.<\/p>\n\n\n\n<p>USD\/TRY extends its uptrend, closing in the 18.00 (R1) resistance level. We hold a bullish outlook bias for the continuation of its uptrend as long as the price action remains above the ascending trendline incepted since the 24<sup>th<\/sup> of June. Should the pair maintain its extend buying orders along its path, we may see the break above the 18.00 (R1) and then the 18.33 (R2) resistance lines. Should the bears take over and for us to alter our assessment, we would require seeing the clear break below the ascending trendline and the subsequent break of the 17.37 (S1) support level, with the pair moving closer to the 17.00 (S2) hurdle.<\/p>\n\n\n\n<p><strong>Other highlights for the day:<\/strong><\/p>\n\n\n\n<p>Today, we also highlight the release of Switzerland\u2019s and Turkey\u2019s CPI YoY figure, from Eurozone the final S&amp;P Global Composite PMI and for the UK we await for the final Composite PMI as well as the final S&amp;P Services PMI figures, all releases being for July. The main event for the day during the American session is expected to be the release of the US\u2019s ISM Non-Manufacturing PMI figure, which is expected to drop and if actually so could weaken the US dollar. We would also like to note the scheduled press releases by Fed\u2019s presidents of Philadelphia Patrick Harker, Richmond\u2019s Thomas Barking and Minneapolis Neel Kashkari.<\/p>\n\n\n\n<p><strong>USDIndex H4 Chart<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1916\" height=\"894\" src=\"\/wp-content\/uploads\/2022\/08\/USDIndex_U2H4-08032022.png\" alt=\"support at one hundred and five point one and resistance at one hundred and six point three, direction sideways\" class=\"wp-image-35623\"\/><\/figure>\n\n\n\n<p>Support: 105.10 (S1), 104.48 (S2), 103.82 (S3)<\/p>\n\n\n\n<p>Resistance: 106.30 (R1), 106.80 (R2), 107.40 (R3)<\/p>\n\n\n\n<p><strong>USD\/TRY H4 Chart<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1916\" height=\"894\" src=\"\/wp-content\/uploads\/2022\/08\/USDTRYH4-08032022.png\" alt=\" support at seventeen point thirty seven and resistance at eighteen, direction upwards\" class=\"wp-image-35624\"\/><\/figure>\n\n\n\n<p>Support: 17.37 (S1), 17.00 (S2), 16.44 (S3)<\/p>\n\n\n\n<p>Resistance: 18.00 (R1), 18.33 (R2), 18.66 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1285\" height=\"319\" src=\"\/wp-content\/uploads\/2022\/08\/benchmark-03082022.png\" alt=\"benchmark-03082022\" class=\"wp-image-35625\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"901\" height=\"480\" src=\"\/wp-content\/uploads\/2022\/08\/table-03082022.png\" alt=\"table-03082022\" class=\"wp-image-35626\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"849\" height=\"656\" src=\"\/wp-content\/uploads\/2022\/08\/morning-reeleases-03082022.png\" alt=\"morning-releases03082022\" class=\"wp-image-35627\"\/><\/figure>\n\n\n\n<p>If you have any general queries or comments relating to this article please send an email directly to our Research team at&nbsp;<a href=\"mailto:reseach_team@ironfx.com\">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>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday, the US dollar rose against its counterparts, rebounding from a four-day losing stream following the Federal Reserve\u2019s rate hike<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35609","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\u2019s efforts to rebound as markets eye ISM<\/title>\n<meta name=\"description\" content=\"USD\u2019s efforts to rebound are backed by hawkish Fed comments, Pelosi\u2019s Taiwan visit, OPEC meeting focus and upcoming US ISM services data.\" \/>\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\/en\/wp-json\/wp\/v2\/posts\/35609\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USD\u2019s efforts to rebound\" \/>\n<meta property=\"og:description\" content=\"USD\u2019s efforts to rebound are backed by hawkish Fed comments, Pelosi\u2019s Taiwan visit, OPEC meeting focus and upcoming US ISM services data.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/en\/usds-efforts-to-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T07:02:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T15:10:19+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-id.com\\\/en\\\/usds-efforts-to-rebound\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"USD\u2019s efforts to rebound\",\"datePublished\":\"2022-08-03T07:02:41+00:00\",\"dateModified\":\"2025-12-11T15:10:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/\"},\"wordCount\":744,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/\",\"name\":\"USD\u2019s efforts to rebound as markets eye ISM\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\"},\"datePublished\":\"2022-08-03T07:02:41+00:00\",\"dateModified\":\"2025-12-11T15:10:19+00:00\",\"description\":\"USD\u2019s efforts to rebound are backed by hawkish Fed comments, Pelosi\u2019s Taiwan visit, OPEC meeting focus and upcoming US ISM services data.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/usds-efforts-to-rebound\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"USD\u2019s efforts to rebound\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/en\\\/\",\"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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