Morning Offer: Fed in Focus as Warsh Faces Congress

GOOGL shares declined 1.7% in the last session, with the RSI falling to 36, approaching oversold territory. The MACD line remains below the signal line and in negative territory, indicating weak short-term momentum. The stock is trading below its 20-day and 50-day moving averages, reinforcing a bearish technical structure. A Fed-related headline could add further pressure on the stock by creating market uncertainty. However, the RSI nearing oversold levels also raises the possibility of a short-term rebound.

The DXY is trading at 101.17, stabilizing just above the 20-day SMA (101.13). The RSI at 53 remains in neutral territory, while the MACD is slightly below its signal line, offering no clear directional signal in the near term. News headlines indicate that the Fed is focusing on the congressional process regarding Warsh; such political developments typically create uncertainty and make it difficult for the market to find direction. While technical indicators point to a sideways trend, the potential impact of the news may also be limited. Therefore, there are insufficient signals to expect a breakout to the upside or downside in the short term.

USDJPY is trading at 162.268, posting a marginal decline of 0.05% over the past 24 hours. The RSI stands at 50.23, indicating a neutral zone with no overbought or oversold signals. The MACD line remains below the signal line, pointing to short-term weakness. The price is trading just below the 20-day SMA (162.33) but above the 50-day SMA (162.01), presenting a mixed outlook. News of the Fed facing Congress could lead to a cautious stance in the market, potentially keeping USDJPY within its current range.

USDTRY maintains its short-term uptrend. The RSI is at 60, supporting upward momentum without entering overbought territory. The MACD line is above the signal line and in positive territory, indicating continued buying pressure. The price is trading above the 20- and 50-day moving averages, which are sloping upward. Although the news headline focuses on the Fed, its impact on USDTRY may remain limited, and the current technical structure supports the uptrend.