DXY – Dollar Pulls Back After Fed Decision
The US Dollar Index fell to around 100.80 after the Fed left rates unchanged, despite three FOMC members dissenting in favour of a 25-basis-point hike. Persistent inflation and a strong labour market continue to support a hawkish outlook. DXY failed to hold above 101.00 and is now in a corrective phase.Key levels:
- Resistance: 101.00 (structural), 101.80 (June high), 102.00 (psychological)
- Support: 100.56, 100.00 (psychological)
WTI Crude – Jumps 7% on Geopolitical Tensions
WTI crude surged 7% to $83.50/bbl, snapping a three-day losing streak. US-Iran tensions escalated, with militias targeting Saudi oil facilities and shipping risks increasing in the Red Sea and Strait of Hormuz. API reported a 3.3-million-barrel crude inventory draw, reinforcing tight supply expectations.Key levels:
- Resistance: $83.90 (9-day MA), $85.00 (psychological)
- Support: $80.00 (psychological), $78.31 (20-day MA), $75.00
Gold – Pressured by Strong Dollar, Holds $4,000
Spot gold traded around $4,065/oz, falling to a one-week low as a stronger dollar and cautious sentiment ahead of the Fed weighed. Elevated real yields and hawkish Fed expectations weakened gold's safe-haven appeal, though central bank and ETF demand continues to provide support.Key levels:
- Resistance: $4,082 (early-week high), $4,166 (3-week high), $4,200 (psychological)
- Support: $4,000 (psychological), $3,968 (lower Bollinger Band), $3,900
Bottom Line
- DXY: Trading below 101.00, in corrective phase. Awaiting further Fed signals.
- Oil: Surged on geopolitics but remains volatile. Watch $83.90 and $80.00 levels.
- Gold: Pressured by USD and yields, but holding above $4,000. Break above $4,166 needed for upside reversal.
