US dollar (DXY) breaks, chart settings remain positive

USD prices, charts, and analysis

  • U.S. dollar Idle at a high price of nearly 16 months due to transactions diluted on holidays.
  • Inflation in the United States is higher than ever.

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latest FOMC Minutes released last night show that the Fed remains cautious about growth and continued price pressure.In yesterday’s statement, the staff’s outlook determined: Risks to baseline forecasts of economic activity were biased downwards, and risks around inflation forecasts were biased upwards. Core consumer spending increased 4.1% year-on-year in October and data was revealed yesterday, but the PCE price index increased 5% over the same time frame. These numbers are the Fed’s favorite indicator of price pressure, requiring the US central bank to curb bond buying programs at a faster pace and require the Fed to raise interest rates faster than originally expected.

Today’s annual Thanksgiving holiday in the United States, coupled with reduced trading hours on Friday, It is expected that the greenback will be restrained until the market reopens next Monday. The dollar has remained slightly below its highest level in 16 months, and daily charts suggest that it is expected to rise further in the coming weeks. The weekly chart shows five consecutive weeks of rise and a series of highs and lows since the beginning of the year. The 200-day average was easily broken a few weeks ago after curbing the rise from the end of September to the beginning of November. The next level of resistance can be around 97.80 levels.

USD (DXY) Weekly Price Chart November 25, 2021

US dollar (DXY) breaks, chart settings remain positive

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US dollar (DXY) breaks, chart settings remain positive

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