OctaFX | OctaFX Forex Broker
Open trading account
Back

USD index (DXY) inside a thin range with small downwards slope

FXstreet.com (Barcelona) - The USD index spot (DXY) has been steadily trading in a thin range since the start of the week in Asia-Pacific, with a slightly downside slope, making consecutive lower lows, and lower highs, every time of 1 cent out a time.

The index has made up to 7 moves inside this thin range from the lower bound to the upper one, of about 6 cents each, starting from early lows at 83.26 to session highs at 83.33/4, to last session lows at 83.20.

Latest COT positionings show no major changes from previous one with commercials still heavily net short from above the 84.00 level, with a long:short ratio of about 1:12, meaning 12 commercials are short out of every 13, while the other side is taken by speculators, more or less same numbers as it was back in early April, when USD topped around the 83.50 mark.

Immediate support to the downside for DXY lies at March 14/April 24 highs 83.16/19, followed by March 13 highs at 83.05, and May 14/31 lows at 82.95/6. To the upside, closest resistance shows at March 27/recent session highs 83.31/34, followed by April 04 highs/May 24 lows at 83.44/9, and Friday's highs at 83.59.

Indonesia Inflation (YoY) declines to 5.47% in May from 5.57%

Read more Previous

GBP/USD capped below 1.5220

The GBP/USD is last at 1.5216, off session highs at 1.5224, moving higher from the very beginning of the week, amid a very slow Asia-Pacific trade, making lows at 1.5187. “Cable has formed a double-bottom with a neckline at 1.5150,”noted FXWW founder Sean Lee, who thinks is “reasonably good risk-reward in being long with stop-loss below 1.5130,” the analyst said.
Read more Next
Start livechat