Fed Minutes: Rate Hikes on Agenda if Inflation Doesn't Fall

The hawkish tone of the Fed minutes could create short-term pressure on the NDX. Technical indicators also support this view, with the RSI approaching oversold territory at 33, while the price remains below both the SMA20 and SMA50. The MACD is in negative territory and below the signal line, indicating weak momentum. However, oversold conditions and the decline over the last 24 hours could trigger bargain buying, so the bearish expectation is held with moderate confidence.

The DXY is in oversold territory with an RSI of 19.3, and the price is trading below both the 20-day and 50-day SMAs, indicating that short-term weakness may persist. The MACD is negative and below its signal line, reflecting downward momentum. The hawkish tone in the Fed minutes could provide some short-term support for the dollar, but the current technical structure may limit this effect. Oversold conditions could trigger a corrective bounce, but with the trend still down, upside moves are likely to remain limited. Overall, the bearish bias is likely to hold in the near term, though consolidation rather than a sharp decline can be expected.

The hawkish tone of the Fed minutes could dampen risk appetite in the short term and create selling pressure on the index. Technical indicators also support this view; the RSI is in the weak zone at 38, and the price is below both the 20-day and 50-day moving averages. The MACD is in negative territory and below the signal line, confirming downward momentum. However, since the decline over the last 24 hours has already occurred, further downside is likely limited, so the confidence level has been kept moderate. Investors should monitor the 7,700 support level; a break below this level could accelerate the decline.