U.S. dollar rises with U.S. bond yields

RSI and stochastic index are falling, exchange rate was under pressure last week and reached the support at 1.2050, this area is the extended rising trendline from last May. If this area is lost, a more significat downward pressure will be extended. Using the golden ratio to calculate, 61.8% of callback rate is 1.1885. Greater support at 1.16. Upper resistance at 1.22 and 1.2250, greater resistance at one month high of 1.2349.

For the trend of the US dollar index, the chart shows that the US dollar has repeatedly tested the 90 mark since the beginning of the year. It once fell to 89.68 last Thursday, but was quickly stabilized above this mark and has driven the RSI and stochastic index to rise again, while the MACD The indicator has just broken the signal line, it is estimated that the US dollar has a tendency to rise again in the short to medium term. The current important resistance refers to the MA-100 of 91.30 level. If calculated on the basis of the cumulative decline since November last year, the 50% and 61.8% rebound levels are 91.75 and 92.35 respectively. The larger resistance level refers to the high of 94.31 in November last year. As for the downside, except for the 90 mark, further reference will be made to the low of 89.21 at the beginning of the year, and the larger support will refer to the low of 88.25 in February 2018.

Highlights of the week:
The final value of the euro zone's comprehensive PMI rose to 48.8 in February
The final PMI of the Eurozone service sector in February was 45.7
Germany's February comprehensive PMI final value is 51.1
Germany's February service industry PMI final value was 45.7
The Eurozone’s January PPI was flat compared to the same period last year, up 1.4% from the previous month

Estimated volatility:
Resistance 1.2200-1.2250 - 1.2349
Support 1.1885-1.1600

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