DXY: 2-way trades likely to persist – OCBC

FXStreetNov 12, 2025 8:44 AM

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US Dollar (USD) continued to trade mixed in absence of fresh catalyst. DXY was last at 99.50 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Data to be delayed yet again due to shutdown

"Mild bullish momentum on daily chart faded but decline in RSI slowed. 2-way trades likely to persist. Resistance at 100.40/60 levels (200 DMA, 76.4% fibo), 101.20 levels. Support at 99.10 levels (50% fibo retracement of May high to September low), and 98.20/40 levels (50, 100 DMAs, 38.2% fibo)."

"On ending the government shutdown, a vote in the House is expected later today and is expected to have enough votes in the Republican-controlled House for passage. Question remains when will data releases resume normal flow after US government ends?"

"CPI, PPI and retail sales data are supposed to be released on Thursday, Friday this week but is likely to be delayed until further notice. Past data will be gradually released after shutdown is lifted, going by historical episodes. The statistical agencies can release the missed data as and when they are ready and need not wait till the next scheduled date to release."

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