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Forex

Dollar Technicals Point to Near-Term Rebound Amid Upcoming Inflation Reports

Guavy AI Editorial Team
Instruments
USD
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The US dollar index has fallen sharply, but technical analysis suggests it may be due for a near-term rebound.

A doji formation on the daily DXY chart is holding above the August low and a high-volume node (HVN), indicating potential support for the dollar.

The upcoming PPI and CPI reports from the US could provide a catalyst for this bounce, especially if inflation data surprises to the upside.

Futures traders remain heavily long the USD, with an aggregate net-long position of $25.4 billion, according to the latest Commitment of Traders (COT) data.

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