Dollar Crashes to 3-Month Low Below 99, Gold Surges to $4,519, Oil Rises to $85.80, ASX Recovers

RichieVo

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Date: August 21, 2026

Executive Summary

The US dollar tumbled to 98.77-98.92 – its lowest level in three months – after the Treasury doubled its long-term bond buyback program, sending 30-year yields sharply lower. Gold surged over 4% to $4,519/oz, breaking above the 100-day MA at $4,382. Oil rose to $85.80 as Trump imposed "the toughest" sanctions on Iran. The ASX200 ended a 6-day losing streak with a modest recovery, while the NZX50 hovered near its all-time high.

US Dollar – Plunges to 3-Month Low

DXY crashed to 98.77-98.92. The Treasury doubled its long-term bond buyback program, sending 30-year yields sharply lower from 19-year highs. A PIMCO long-term bond ETF saw a record $123 million inflow ahead of the announcement, signaling heavy positioning. Support at 98.52-98.00.
Key levels: Support 98.52–98.00; Resistance 99.00–99.30.
Outlook: Bearish. Further downside likely.


USD/JPY – Recovers Slightly to 159

USD/JPY recovered to 158.90. Weak Japanese trade data and fiscal deficit concerns weighed on the yen. The 160 level remains a psychological barrier. The 200 EMA at 157.84 provides key support.
Key levels: Support 158.00–157.84–157.18; Resistance 159.00–159.78–160.64.
Outlook: Bearish below 160. Intervention risk remains.


WTI Crude – Rises to $85.80

WTI crude rose to $85.80/bbl. Trump imposed "the toughest" economic sanctions on Iran. Supply disruptions remain elevated. The $84 level has turned into support. Next targets: $87-88.
Key levels: Support 84.00–82.00; Resistance 86.00–88.00.
Outlook: Bullish short-term. Watch geopolitical headlines.


Gold – Surges to $4,519

Gold soared to 4,519/oz,risingover4%inasinglesession,breakingabovethe100-dayMA(4,382). The Treasury buyback program drove yields lower, reducing the opportunity cost of holding gold. September Fed hold probability at 65%. Next targets: 4,550-4,600.
Key levels: Support 4,450–4,382; Resistance 4,584–4,600.
Outlook: Strong bullish. Targeting $4,600.


ASX200 – Recovers After 6-Day Losing Streak

ASX200 rose 0.33% to 9,084, ending a 6-day losing streak. Materials (+3.52%) led gains on surging gold prices. Banks (-1.93%) remained under pressure on property sector concerns. Support at 9,000, resistance at 9,110-9,200.
Key levels: Support 9,000; Resistance 9,110–9,200.
Outlook: Technical recovery. Medium-term trend remains positive.


NZX50 – Near All-Time High

NZX50 ended flat at 13,919, near its all-time high of 14,012. The market is consolidating before a potential breakout. Support at 13,800, resistance at 14,012.
Key levels: Support 13,800; Resistance 14,012.
Outlook: Neutral. Needs to break 14,012.


Key Events Today (August 21)

Time (AEST)EventNotes
23:45US S&P Global Manufacturing PMIManufacturing activity gauge
23:45US S&P Global Services PMIServices sector indicator

Currency Pairs – Key Levels
  • EUR/USD: 1.1670–1.1741 – Hỗ trợ 1.1600–1.1571; Kháng cự 1.1700–1.1741
  • GBP/USD: 1.3625–1.3653 – Hỗ trợ 1.3524–1.3508; Kháng cự 1.3653–1.3700
  • AUD/USD: 0.7108–0.7129 – Hỗ trợ 0.7045–0.7000; Kháng cự 0.7129–0.7200
  • USD/JPY: 158.90–159.25 – Hỗ trợ 158.00–157.84; Kháng cự 159.00–159.78

Bottom Line

  • DXY: Bearish below 99
  • Gold: Strong bullish above $4,500, targeting $4,600
  • Oil: Bullish, geopolitical-driven
  • USD/JPY: Bearish below 160
  • ASX200: Recovering after 6-day losing streak
  • NZX50: Near all-time high
 

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