US Dollar (USD) fell further overnight amid continued decline in UST yields. DXY was last at 97.42 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Bullish momentum on daily chart shows signs of fading
“There is neither tier-1 data nor Fedspeaks for markets to digest. Day ahead brings existing home sales data. Bullish momentum on daily chart shows signs of fading while RSI fell. Risks remain skewed to the downside. Support at 97 levels. Resistance at 97.60 (21 DMA), 98.50 (50 DMA), 99.60 levels (23.6% fibo retracement of 2025 high to low).”
