The US Dollar (USD) bulls show signs of fatigue even as better US data last Fri did not fuel further USD upticks. DXY was last at 106.52 levels, OCBC FX analysts Frances Cheung and Christopher Wong notes.
Potential bearish divergence forming on daily MACD
“In response to better-than-expected US data and less dovish rhetoric (from Powell), markets have already scaled back probability of 25bp cut in Dec meeting to ~65% chance (vs 71% chance a week ago). Prospects of Fed cut will continue to adjust as US data comes. This puts focus on data this week: prelim PMIs, Uni of Michigan sentiment data (Fri) before core PCE (27 Nov).”
“Firmer print will add to US exceptionalism narrative, keeping USD rates and USD elevated for longer, until the trend turns. Bullish momentum on daily chart moderated while rise in RSI slows near overbought conditions.”
“Potential bearish divergence may be forming on daily MACD, but price action requires further monitoring. Near term, not ruling out a technical retracement. Support at 106.50, 105.60 (76.4% fibo) and 104.50/60 levels (21DMA, 61.8% fibo retracement of 2023 high to 2024 low). Resistance at 107, 107.40 (2023 high).”
作者：FXStreet Insights Team，文章来源FXStreet_id，版权归原作者所有，如有侵权请联系本人删除。
风险提示：以上内容仅代表作者或嘉宾的观点，不代表 FOLLOWME 的任何观点及立场，且不代表 FOLLOWME 同意其说法或描述，也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为，除非另有明确的书面承诺文件，否则本社区不承担任何形式的责任。
FOLLOWME 交易社区网址: www.followme.asia
加载失败()