DXY: Busy week for the USD – OCBC

FXStreet Insights Team FXStreet

US Dollar (USD) traded mixed as markets await catalysts this week – JOLTS job openings (Tuesday); ADP employment, 2Q GDP (Wednesday); FOMC, core PCE (Thursday); NFP (Friday) while anticipating more trade deals/details ahead of 1 Aug tariff deadline. DXY was last at 98.20 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

2-way trades likely for now

"A deal with EU was announced over the weekend while talks with China in Stockholm are scheduled for today and tomorrow – likely to address the possible extension of the August 12 expiration date or provide further details. In the UK, some information on the trade agreement with US may be released today as negotiators continue their discussions."

"Daily momentum and RSI indicators are flat. 2-way trades likely for now. Resistance here at 97.60 (21 DMA), 98.30 (50 DMA), 99.60 levels (23.6% fibo retracement of 2025 high to low). Support at 97, 96.40 levels."

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