DXY | US Dollar Steady Ahead of CPI DataU.S. Dollar Currency IndexTVC:DXYDatTongMacro approach: - The US dollar traded within a narrow range as fading hopes for a US–Tehran agreement kept geopolitical uncertainty in the Middle East elevated. - Higher oil prices added to inflation concerns, while investors remained cautious ahead of the release of July US CPI data. - The US dollar could see increased volatility today, as the inflation report may reshape expectations for the Federal Reserve’s policy path. Technical approach: - DXY bounced after retesting the key support at 99.50. The price is above between both converging EMAs, indicating a sideways continuation potential. - If DXY remains above EMA21, the price may raise toward the immediate resistance at 100.03. - On the contrary, closing below 99.75 may prompt a retest of the next support at 99.50. Analysis by: Quoc Dat Tong, Senior Financial Markets Strategist at Exness