The Dollar has resumed its broader bullish trend during Tuesday’s European session and is testing resistance right below 154.00 with all eyes on the US JOLTS Job Openings data.
The pair draws support from the image of a solid US economy, with all the other main economies slowing down. This endorses the idea that Fed easing will be only gradual, and keeps US Treasury yields and the USD buoyed.
In Japan, the uncertain political and monetary scenario after Sunday’s elections is weighing on the Yen. The Bank of Japan meets this week and is widely expected to keep interest rates on hold until the political context is clarified.
In the calendar today US Consumer confidence is expected to have improved in October, while the JOLTS Job Openings are seen declining moderately yet at levels consistent with a healthy labour market.
From a technical perspective, the bullish bias remains intact but the RSI shows a bearish divergence, warning that a correction might be ahead. Resistances are 153.90 and 155.10. Supports lie at 152.50 and 151.60.More By This Author:US JOLTS Job Openings Expected To Resume Downward Trend In September Gold Price Moves Back Above $2,750 Level, Closer To All-Time Peak EUR/JPY Tests The Previous High At 164.90 After Rejection At 166.00
