Overbought conditions and support levels – OCBC

Overbought conditions and support levels – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong describe USD/IDR as easing from overbought territory as hopes of a US–Iran deal support sentiment. Bank Indonesia’s (BI) tighter rules on cash FX purchases and comments that the Rupiah (IDR) is undervalued back stabilization efforts. They note intact bullish momentum but early RSI rollover, with support at […]

DXY rebounds as Iran hope trade unwinds

DXY rebounds as Iran hope trade unwinds

Priced for peace The morning belonged to the deal: Asia had ripped overnight, with the Nikkei 225 clearing 62,000 for the first time on a session that gained north of 5%, and US futures came in primed for another leg of the Iran ceasefire trade. The US Dollar Index (DXY) sagged toward 97.60, equities printed […]

Sentiment-led rally eyes 1.1825 – Scotiabank

Sentiment-led rally eyes 1.1825 – Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret report the Euro (EUR) is modestly higher, extending a sentiment-driven recovery despite softer expectations for European Central Bank (ECB) tightening. Stronger German factory orders and resilient Eurozone retail sales have helped, but they stress that broader risk sentiment is the main driver. Technically, EUR/USD is bullish, with key […]