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
Silver price (XAG/USD) following its six-day winning streak, trading around $40.98 per troy ounce on Wednesday, the highest since September 2011.
The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Gold price (XAU/USD) is down 0.8% to near $4,140 during the European trading session on Monday. The precious metal faces selling pressure as the three-day rally hits a pause after failing to extend above $4,202.
Related Instrument
