Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Indices

DXY: Return of safe haven – OCBC

Source Fxstreet

US Dollar (USD) fell overnight as US PPI data underwhelmed. DXY was last at 98.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Daily momentum is mild bearish bias

"But USD rebounded this morning, alongside other safe-haven proxies, including CHF, JPY and gold on geopolitical escalation. Israel attacks on Iran also saw >10% jump in brent. "

"Not surprisingly, risk proxies including AUD and KRW traded on the backfoot. Iran has indicated that they will respond 'harshly'. Geopolitical noises may temporarily distort the USD downtrend and temporarily weigh on risk proxies especially heading into the weekend."

"Daily momentum is mild bearish bias while RSI shows signs of rising from near oversold conditions. Support at 97.60 (overnight low). Resistance at 99.30 (21 DMA), 99.80 levels (50 DMA)."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin Risks Drop Below $110,000 Despite Bounce – Is A 15% Pullback Coming?Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000.

Author NewsBTC

11 hours ago

Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000.

Meme Coins Price Forecast: DOGE, SHIB, PEPE flash sell signals, hint at further losses 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.

Author FXStreet

12 hours ago

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.

[Crypto IPO] Figure Technology Follows Circle and Bullish with Nasdaq Listing Plans 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).

Author TradingKey

12 hours ago

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).

Short Sellers Target the “Most Expensive Stock” in the S&P — Is Palantir Worth Less Than $40?AI trading enthusiasm remains strong, with AI analytics software company Palantir’s stock surging 130% year-to-date.

Author TradingKey

12 hours ago

AI trading enthusiasm remains strong, with AI analytics software company Palantir’s stock surging 130% year-to-date.

AUD/JPY dips below 96.00, geopolitical optimism limits downside AUD/JPY offers its recent gains from the previous session, trading around 95.80 during the European hours on Tuesday.

Author FXStreet

12 hours ago

AUD/JPY offers its recent gains from the previous session, trading around 95.80 during the European hours on Tuesday.

Related Instrument