DXY faces bearish pressure below 98.90, while EUR/USD maintains a bullish bias above 1.1607, and GBP/USD struggles for momentum near 1.3526 support.
DXY remains below moving averages and a descending trendline with sellers defending 98.90, supporting a bearish bias.
EUR/USD holds a rising trendline above 1.1607 with RSI in the upper half, indicating a bullish bias targeting 1.1642.
GBP/USD is trading sideways around moving averages with limited recovery momentum, keeping a neutral bias despite holding support at 1.3526.
The U.S. dollar remains stagnant as investors await critical CPI data and the upcoming FOMC meeting. Meanwhile, the euro gains momentum, supported by a 25 basis point ECB rate hike, while the British pound continues to trade sideways as the Bank of England maintains a cautious, wait-and-see approach to monetary policy.
The dollar is facing a lack of investor interest as markets await key U.S. inflation data (PPI and CPI) and the upcoming FOMC meeting, while technical resistance at 98.90 keeps the DXY in a bearish trend.
The outlook is bullish as the pair holds a rising trendline above 1.1607, with the RSI in the upper half of its range, signaling potential for a move toward 1.1642.