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The US Dollar (USD), measured by the US Dollar Index (DXY), showed sideways movement above the 103.00 level in Friday’s session. This comes amid stabilized risk sentiment and flat trading in US stock index futures following Thursday’s rally, with the 10-year US yield remaining around 4% early in the day.Despite adjustments in market expectations for future monetary policy decisions, the US economic outlook continues to indicate growth above trend, suggesting premature market anticipation for aggressive easing.
Daily digest market movers: US Dollar stable as Fed officials highlight healthy labor market
DXY technical outlook: Bearish bias persists as buyers struggle for significant movementThe DXY outlook remains bearish, with buyers struggling to make a significant move. The index is still operating beneath the 20, 100 and 200-day Simple Moving Averages (SMAs), confirming an overall bearish bias.The momentum-based Relative Strength Index (RSI) is still below 50, indicating continued selling pressure, while the Moving Average Convergence Divergence (MACD) continues to print lower red bars. Despite the week’s gains, the overall technical outlook has not significantly improved, with potential for a correction still observed.Supports: 103.00, 102.50, 102.20 Resistances: 103.50, 104.00More By This Author:AUD/USD Sits Near Multi-week Peak, Bulls Await Sustained Strength Beyond 0.6600 Mark Gold Price Consolidates In A Range Amid Mixed Cues, Bias Seems Tilted In Favor Of Bulls AUD/JPY Clings To Hawkish RBA-Inspired Gains, Struggles To Build On Strength Beyond 96.00