DXY: Slight retracement ahead? – OCBC

FXStreetNov 21, 2025 9:42 AM

View all comments（0）



US Dollar (USD) traded a touch firmer on release of delayed Sep jobs report. DXY was last at 100.12 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

2-way trades likely to persist

"NFP +119k, much higher than +53k expectations though unemployment rate crept higher at 4.4%. Nevertheless, this painted the job market before the government shutdown and does not reflect the labour market conditions today. The probability of Dec cut has been reduced to 31% but quantum of cut for 2026 remained. This probably explained why the USD did not go a lot higher as only near-term expectation was affected."

"Mild bullish momentum on daily chart observed while rise in RSI moderated. 2-way trades likely to persist though we may be slight bias for some retracement lower. Support at 99.50/70 levels (21 DMA, 61.8% fibo), 99.10 (50% fibo retracement of May high to Sep low). Resistance at 100.6 (76.4% fibo)."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

AMD Stock Down 17% From Peak — Can July 22 Advancing AI Save It?

TradingKey - AMD ended the week at $486, down 17% from its June high. The trendline broke. RSI hit 29. But KeyBanc raised to $725, BofA to $620, and July 22 Advancing AI brings Zen 6 Venice and the MI455X roadmap. Here is the setup for the week ahead.

SpaceX IPO Makes History, But Breaks Below Offer Price a Month Later, What Should Investors Watch in the Coming Months?

TradingKey - On June 12, 2026, Eastern Time, SpaceX (SPCX) listed on the Nasdaq at $135 per share with a base fundraising size of approximately $75 billion, setting a new global IPO record.

S&P 500 Index Forecast: Meta, Microsoft, Alphabet and Other Companies Continue Increasing AI Investment, May Support Index Surpassing 8,000 in Second Half of 2026

TradingKey - The S&P 500 index has recently experienced volatility at high levels. As of the U.S. market close on July 16, the S&P 500 index stood at 7,533.77 points, falling 0.51% on the day. Despite the short-term pullback, technical indicators suggest the medium-to-long-term bullish trend remains intact, and institutions continue to hold a positive outlook for the future of the S&P 500.

SpaceX Negotiates Multi-Billion Dollar Computing Power Deal With Pentagon: Stock Price Drop Does Not Change Wall Street’s Bullish Expectations

Tradingkey - The Wall Street Journal reported that SpaceX (SPCX) is in negotiations with the U.S. Department of Defense to sell computing power. The deal could be valued at billions of dollars, and if finalized, would mark the latest major infrastructure contract for Elon Musk’s integrated rocket, satellite, and artificial intelligence conglomerate. The report noted that the partnership model for this deal is similar to previous agreements SpaceX reached with Alphabet’s Google (GOOGL) and AI firm Anthropic. The negotiations come as the U.S. military seeks to construct data centers within its military bases to bolster its autonomous computing capabilities.

Micron Stock Price Prediction: MU Breaks $898 Support as Memory Boom Faces Capacity Risk

Micron posted record fiscal Q3 revenue of $41.46 billion and guided for $50 billion in Q4 sales, but MU has broken below $897.80 support as investors assess capacity growth and peak memory margins.

Featured Tools