<p style=““ class=“text-align-justify“>The slight pushback from Fed chair Powell yesterday may have something to do with it but the flows today are not reflecting a coherent theme when viewed against broader market sentiment. <a target=“_blank“ href=“https://www.forexlive.com/terms/e/equities/“ class=“terms__main-term“ id=“9c7de710-0fba-425c-93e5-422427b92644″ target=“_blank“>Equities</a> are lower while Treasury yields are mixed, and that is failing to offer much for traders to work with at the moment.</p><p style=““ class=“text-align-justify“>The dollar is trading at the lows for the day across the board, as the key levels highlighted yesterday are all still in play right now (renamed for relevance):</p><ul class=“text-align-start vertical-align-baseline“><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/eurusd-nears-a-test-of-key-support-level-as-dollar-stays-poised-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>EUR/USD near its 100-day moving average</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/usdjpy-looks-for-a-more-meaningful-upside-break-on-higher-bond-yields-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>USD/JPY at its 200-day moving average</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/gbpusd-downside-in-focus-after-break-of-january-lows-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>GBP/USD break of January lows but now reverting back to its 200-day moving average</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/usdchf-looks-for-a-bit-more-of-a-pullback-for-now-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>USD/CHF coming up short at its 100-day moving average?</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/usdcad-comes-up-for-some-air-boc-in-focus-later-today-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>USD/CAD holds break above 1.3700 post-BOC</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/audusd-in-troubled-waters-after-double-whammy-yesterday-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>AUD/USD hanging on at the 21 November lows</a></li><li class=“vertical-align-baseline“><a target=“_blank“ href=“https://www.forexlive.com/news/nzdusd-downside-case-in-focus-after-yesterdays-plunge-lower-20230308/“ rel=“follow“ target=“_blank“ class=“article-link vertical-align-baseline“>NZD/USD still under key daily moving averages and 38.2 Fib</a></li></ul><p style=““ class=“text-align-justify“>

It’s hard to really jump in to say that the dollar rally on Tuesday has peaked this week, especially since <a target=“_blank“ href=“https://www.forexlive.com/news/payrolls-the-only-thing-that-matters-now-towards-the-end-of-the-week-20230309/“ target=“_blank“ rel=“follow“>markets are looking to the US jobs report tomorrow</a> as being one of the major hurdles to get through before the FOMC meeting later this month.</p><p style=““ class=“text-align-justify“>That’s not making it easy to really interpret the moves today I would say. Can Friday come already?</p>

This article was written by Justin Low at www.forexlive.com.