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OCBC Bank analysts think that the upside impetus for DXY has been extinguished for now with both 55-day MA (96.34) & 100-day MA (96.43) now serving as resistance levels instead.

Key Quotes

“The imminent violation of the 96.00 handle paves the way for further decay to the 200-day MA (95.64).”

“On a structural note, aggregated rate differentials tanked (moving against the USD) on Tuesday and would be expected to continuing weighing on the broad dollar.”