The Automatic Data Processing (ADP) jobs report showed that the U.S. economy added 749,000 private jobs in September, better than +649,000 expected. Investors were also optimistic over a new economic stimulus package, although U.S. Treasury Secretary Steven Mnuchin said there was still no agreement on a deal after a meeting with House Speaker Nancy Pelosi.

From a technical point of view, on a daily chart, Dollar Index is trading within a bullish channel and stands above its 50-day moving average (in blue). The daily RSI stands within its buying area. Readers may therefore consider the potential for further advance as long as 92.75 is not broken to the downside. The nearest resistance would be set at September top at 94.75. A second one would be set at previous overlap at 95.70.

 

- advertisement -

Previous articleGBP/JPY Daily Outlook
Next articleEU Indices Try To Rebound | TA On Smith And Nephew
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.