Monday Briefing: From DXY, Gold to Latest FX headlines; Nov 21, 2022

US Dollar Index Overview

  • DXY moves in stiff boundaries and hovers around 107.90 mark.
  • It made intraday high at 107.90 and low at 106.90 mark.
  • A day Chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • Immediate hurdles are seen at 107.93 to 107.07 mark.
  • A sustained close of either side on H1 chart requires for the further directions of the U.S. dollar.

Technical Analysis: XAU/USD (Gold)

  • Gold depreciates in the U.S. session and slips back below $1,740 mark.
  • The pair made intraday high at $1,753 and Low at $1,735 mark.
  • A day chart is up and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $1,747 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,736 on H1 chart will test further supports.
Supports
Resistances
$1,736
$1,747
$1,730
$1,754
$1,724
$1,760
$1,718
$1,766
$1,712
$1,773
$1,706
$1,778

 
Key Headlines for the FX market:

  • A 5.6-magnitude earthquake struck Indonesia’s West Java province killing 46 people and injuring up to 700, the national disaster agency said, as rescue workers and authorities worked to determine the full extent of the damage.
  • Ukraine narrowly escaped disaster during fighting at the weekend that rocked Europe’s largest atomic power plant with a barrage of shells, some falling near reactors and damaging a radioactive waste storage building, the U.N. nuclear watchdog said.
  • Students in schools across several Beijing districts buckled down for online classes after officials called for residents in some of its hardest-hit areas to stay home, as COVID cases in China’s capital and nationally ticked higher.
  • New Zealand’s highest court ruled that the country’s current voting age of 18 was discriminatory, forcing parliament to discuss whether it should be lowered.
  • QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas, the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.
  • German producer prices posted their first monthly fall in two and a half years in October, raising hopes that double-digit inflation in Europe’s largest economy could be nearing its peak.

Source: Reuters

Keep an eye open for the latest news and fundamentals affecting the FX markets.

Take a look and do trade wisely!
Good Luck