The US dollar (USD) fell during the night since US IPP data were disappointing. The DXY was for the last time at 98.32 levels, ECCBC FX analysts Frances Cheung and Christopher Wong point out.
The daily impulse has a slight bassist inclination
“But the USD recovered this morning, along with other safe refuge proxies, including Chf, JPY and gold due to geopolitical climbing. Israel’s attacks to Iran also saw an increase of more than 10% in Brent.”
“It is not surprising that the risk proxies, including Aud and KRW, will operate at a disadvantage. Iran has indicated that they will respond ‘hard.’ Geopolitical noises can temporarily distort the bearish tendency of the USD and temporarily weigh on risk proxies, especially for the weekend.”
“The daily impulse has a slight bassist inclination while the RSI shows signs of increase from conditions close to overalls. Support in 97.60 (minimum of the night). Resistance at 99.30 (DMA of 21), levels of 99.80 (DMA of 50).”
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.
