US Dollar Surges on Hot Inflation Data
- Inflation Data Impact: The US Bureau of Labor Statistics reported a 0.4% month-over-month rise in the Consumer Price Index (CPI) for January, surpassing the expected 0.3%, indicating persistent price pressures that keep the Fed cautious about its rate policies.
- Dollar Index Rally: Following this data, the US Dollar Index (DXY) surged to a new weekly high near 104.50, reflecting heightened market expectations for the Fed to maintain higher interest rates, while the yield on the 10-year Treasury note also increased.
- Market Reaction: The dollar's strength led to the EUR/USD pair slipping below 1.0800 and GBP/USD approaching 1.2650, highlighting market concerns ahead of the upcoming UK GDP release and showcasing broad demand for the dollar.
- Future Economic Data Focus: Investors are now eyeing the upcoming US Retail Sales report, expected to show a modest 0.1% decline, while a negative print in the UK's Q4 GDP could increase pressure on the British pound, further influencing market sentiment.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0218 | 0.0275 | 0.0335 | 0.0392 | 0.0452 | 0.0509 | 0.0569 |
| Fibonacci | 0.0275 | 0.0319 | 0.0347 | 0.0392 | 0.0436 | 0.0464 | 0.0509 |
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