14 Oct 2013
DXY falters to open the week as last week’s hopes for DC resolution meet harsh reality
FXstreet.com (Barcelona) - Global investors thought the worst was behind them in terms of the US debt ceiling issue – reality says, “Not so fast!” DXY trades lower as investors express disappointment.
DXY and DC politics to have focus of the entire world this week
Risk bears and “American Armageddonists” were forced to unwind their positions heading into the weekend just in case there was a resolution to the disagreements in DC. However, the utter lack of positive movement on the US political front this weekend has the DXY trading lower to start the week. We’ll have to see how things open for US equities later in the session.
Technical outlook for DXY
Technicians say there may be one more little hurdle to jump at 80.51 for the DXY bulls to officially be in the clear. Above that level, the next resistance would be 80.75. Support for DXY comes in at 79.84 and 79.69.
DXY and DC politics to have focus of the entire world this week
Risk bears and “American Armageddonists” were forced to unwind their positions heading into the weekend just in case there was a resolution to the disagreements in DC. However, the utter lack of positive movement on the US political front this weekend has the DXY trading lower to start the week. We’ll have to see how things open for US equities later in the session.
Technical outlook for DXY
Technicians say there may be one more little hurdle to jump at 80.51 for the DXY bulls to officially be in the clear. Above that level, the next resistance would be 80.75. Support for DXY comes in at 79.84 and 79.69.