Dollar Bulls vs. Nasdaq Bears: FOMC Decision and Earnings in Focus
The US Dollar Index (DXY) has maintained its bullish structure above the 101.00 mark, while the Nasdaq remains below the 29,000 resistance and its June-July consolidation range.
Market participants are focused on several key catalysts ahead of the Federal Reserve's policy decision on Wednesday: US-Iran negotiations, security guarantees for commercial shipping, Microsoft and Meta earnings reports, and the FOMC policy decision itself.
A monthly close above 102.00 for DXY would strengthen its bullish outlook, exposing resistance at 102.80, 104.50, and ultimately 107.00. Conversely, a break below 100.30 could invalidate the current structure.