There was enough volatility in the currency markets during the night, with the USD falling at the beginning, in response to the head of Bloomberg who said that the US discussed currencies with South Korea. The DXY was for the last time at levels of 100.77, the FX analysts of OCCBC, Frances Cheung and Christopher Wong point out.
Side operations are probable for now
“This was also confirmed separately by the spokesman of the Ministry of Finance of South Korea. To put it in perspective, it was not exactly a new head winning land in part due to the pressure of the US administration over Asian countries to appreciate their currencies. “
“Then, USD losses were partially recovered after Bloomberg published a separate report saying that US officials do not seek and questions about whether the currency policy or commitments were part of the US bilateral conversations of the US uncertainty in this front can still be volatile for the USD. “
“The bullish impulse in the daily graph remains intact, but the RSI has softened. The lateral operations are probable for now, unless a new catalyst arises. Resistance in 101.80 (DMA of 50), 102.60 (38.2% fibo). Support in 100.80 (fibonacci setback of 23.6% of the peak at least 2025), 99.85 (Dma of 21).
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.
