DXY: Data matters – OCBC
Source Fxstreet
US Dollar (USD) fell on softer than expected CPI. This puts focus on PPI data tonight (8:30pm) before the lead up to FOMC next week. DXY was last at 98.40 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Daily momentum is not showing a clear bias
"In the event of a higher print, we may well see the overnight move reverse. But further downside data surprise (which cannot be ruled out given that the last PPI print was negative) may see DXY break below 2025 low."
"Daily momentum is not showing a clear bias while RSI fell. Support at 97.90 (2025 low). Resistance at 99.40 (21 DMA), 99.90 levels (50 DMA)."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000.
Meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), are experiencing a decline as selling pressure builds in the broader cryptocurrency market.
U.S.-based blockchain lending firm Figure Technology Solutions Inc. publicly announced it has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).
AI trading enthusiasm remains strong, with AI analytics software company Palantir’s stock surging 130% year-to-date.
AUD/JPY offers its recent gains from the previous session, trading around 95.80 during the European hours on Tuesday.
Related Instrument
