The dollar encountered renewed selling.......>

DOLLAR: The dollar encountered renewed selling pressure post US GDP Friday

which saw the Dollar index extend its corrective pullback off multi-month highs

of 98.33 to 97.85. Recovery efforts have so far held shallow through Asia as the

Golden Week Holiday's limited volumes, this has resulted in the DXY trading 5

pips either side of the 98 handle.

- Consolidation above 98 is required before challenging the double-top area at

98.30/35. Above here opens a run at the May 8 2017 low at 98.49, ahead of the

May 16 2017 high at 98.89. Bears need a close under 98 to challenge the 50%

retracement level of 96.74-98.33 at 97.54.

- Friday's pullback in the dollar saw gold rally +$10 through $1285, before

topping out at $1288.74. The 50% retracement of $1310.67-1266.42 & Apr 16 high

provide resistance at $1288.54/80, a break opens the 100-dma at $1293.14. Last

$1284.80.

- WTI & Brent both trade around ~$0.25 below their respective settlement levels.

- Personal Income data the main US release today at 1230GMT. Personal Income is

expected to rise by 0.4% m/m in March after increasing by 0.2% in February.