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DXY: Likely to face a range-trade for now – OCBC
By FXStreet Insights Team
Date Published: 25 Jul 2025 | Date Modified: 25 Jul 2025
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US Dollar (USD) snapped decline overnight as US data - initial jobless claims, prelim services PMI surprised to the upside while UST yields drifted higher. DXY was last at 97.71 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
US Dollar (USD) snapped decline overnight as US data - initial jobless claims, prelim services PMI surprised to the upside while UST yields drifted higher. DXY was last at 97.71 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
2-way trades likely
"Daily momentum was flat but RSI rose. 2-way trades likely, with risk slight skewed to the upside in the interim. Resistance at 97.60 (21 DMA), 98.35 (50 DMA), 99.60 levels (23.6% fibo retracement of 2025 high to low). Support at 97, 96.40 levels. Day ahead brings durable goods orders."
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