Fed Chair Warsh: Inflation Fight Is Our Priority

Despite the RSI14 being in oversold territory at 29.3, the DXY is signaling short-term weakness. The MACD line remains below the signal line and in negative territory, indicating continued bearish momentum. The price is trading below both the 20-day and 50-day moving averages, confirming a weak technical structure. Fed Chairman Warsh's emphasis on fighting inflation may reduce expectations for interest rate cuts, putting short-term pressure on the dollar. However, the oversold condition and low price levels also suggest the possibility of some recovery.

USDJPY is trading at 161.79, down 0.35% in the last 24 hours. Although the RSI at 29.45 has entered oversold territory, the price remains below both the 20-day (162.32) and 50-day (162.10) moving averages. The MACD line is below the signal line and in negative territory, indicating continued short-term bearish momentum. While Fed Chair Warsh's statement prioritizing the fight against inflation could strengthen the US dollar, the weak technical outlook keeps the bearish bias dominant. However, due to the oversold condition, a short-term corrective bounce is possible, making the downside expectation high but not certain.

Fed Chair Warsh's prioritization of fighting inflation could weaken expectations for interest rate cuts and negatively impact risk appetite. Technically, the NDX is approaching oversold territory with an RSI of 38.3, yet the MACD remains below its signal line and in negative territory, confirming short-term pressure. The price trading below both the SMA20 (29,611) and SMA50 (29,467) indicates a continuing downtrend. However, a slight 0.39% rise in the last 24 hours and the low RSI level keep the possibility of a short-term corrective bounce alive. Therefore, while downside expectations are high, a cautious trajectory rather than a sharp decline can be anticipated.

The Fed Chair's emphasis on fighting inflation could weaken expectations for interest rate cuts and create pressure on gold prices. Although the RSI at 29.6 signals a potential short-term recovery in oversold territory, the MACD remaining below the signal line and in negative territory indicates continued bearish momentum. The price trading below the 20- and 50-day moving averages points to a weak technical outlook. Despite the 2.1% gain in the last close, the overall trend and news flow support a bearish move in the short term.