DXY: 2-way risks near term – OCBC
Source Fxstreet
The US Dollar (USD) slipped amid slippage in initial jobless claims but levels remain confined to recent lows. Dollar Index (DXY) was last at 100.65, OCBC FX analysts Frances Cheung and Christopher Wong note.
Interim double-bottom seems to be forming
“Daily momentum is mild bullish while RSI dipped. Interim double-bottom appears to be forming – we continue to watch price action. Resistance at 101.10 (21 DMA), 101.90. Support at 100.20 levels (interim double bottom).”
“This week, we watch core PCE (Friday). A hotter print would bring back fears of second-round inflation risks, especially so when Fed is guiding for frontloading of rate cuts. We are also caution of quarter-end flows that may distort price action in the short term.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next MoveWith the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Gold price (XAU/USD) gains ground to near $4,575 during the early Asian session on Tuesday. The precious metal edges higher as hopes for US-Iran peace negotiations weakened the US Dollar (USD).
Gold rises to weekly high as US, Iran reach peace dealGold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.
Gold price (XAU/USD) rises to a weekly high during the Asian trading hours on Monday. The precious metal rebounds after the United States (US) and Iran had reached a deal to end their conflict, easing concerns about inflation and higher interest rates.
Related Instrument
