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US Dollar (USD) continues to trade near its 2-year highs. Dollar Index (DXY) was last seen at 108.23, OCBC’s FX analysts Christopher Wong notes.
USD continues to trade near its 2-year high
“Daily momentum is mild bullish while RSI rose into overbought conditions. Resistance at 108.50, 109 levels. Support at 107.20, 106.70 (21 DMA). Day ahead watch US data – core PCE, personal income/spending and Uni of Michigan sentiment. Market liquidity is increasingly thinner and fluid pricing can exacerbate FX moves. A softer than expected print may provide a breather for risk proxies and tame USD bulls.”
USD continues to trade near its 2-year high
“Daily momentum is mild bullish while RSI rose into overbought conditions. Resistance at 108.50, 109 levels. Support at 107.20, 106.70 (21 DMA). Day ahead watch US data – core PCE, personal income/spending and Uni of Michigan sentiment. Market liquidity is increasingly thinner and fluid pricing can exacerbate FX moves. A softer than expected print may provide a breather for risk proxies and tame USD bulls.”
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.