The US dollar (USD) quoted moderately during the night while markets expect data and Fed statements this week. The DXY was for the last time at 99.01, the FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
A certain consolidation in the interin is expected
“The weak labor market report has already made the probability of a Fed cut in September rises to 95% (compared to 40% as of July 31). The upward impulse in the daily chart shows signs of fading, but the fall in the RSI was moderated.”
“A certain consolidation in the interim is expected. Support at 98.30 (DMAS of 21 and 50), levels of 97.20. Resistance in 100 (DMA of 100), levels of 100.50. The approach this week is in the ISM services data (Tuesday); initial unemployment requests (Thursday) and Fed statements.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
