DXY: Mild bullish momentum on daily chart fades – OCBC
|US Dollar (USD) traded mixed overnight with softness seen vs. major FX while USD traded modestly firmer vs. most Asian FX including Japanese Yen (JPY). Dollar Index (DXY) was last at 99.32 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Two-way trades likely to persist
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"Mild bullish momentum on daily chart faded but RSI rose. 2-way trades likely to persist. Resistance at 100 levels (200 DMA), 100.6 (76.4% fibo). Support at 99.10/30 levels (21DMA, 50% fibo retracement of May high to Sep low), and 98.30/50 levels (50, 100 DMAs, 38.2% fibo)."
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