European Open Sterling spikes German GDP up next
Volatility from GBP pairs woke traders up in Asia. Meanwhile, Powell’s ‘Turnaround Tuesday’ comments for Wall Street failed to spill over to Asian equities.
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Later today, the University of Michigan will publish its Consumer Sentiment Index for July, expected at 79.0.The U.S. Commerce Department will report June housing starts (1.18 million units expected) and building permits (1.29 million units expected).
From a technical point of view, on an intraday chart, Dollar Index remains on the upside and is supported by its rising 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 96.15 is not broken to the downside. The nearest resistance would be set at July 16 top at 96.40. A second one would be set at horizontal resistance at 96.50.
Source: TradingView, GAIN Capital
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