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USD Broadly Stronger Ahead of FOMC Meeting

CEE FX
  • USD continues to trend higher ahead of the FOMC meeting; DXY index is currently trading slightly above its 50DMA (96.0360), up 1.5% from its local low of 94.63 reached on January 14.
  • CEE currencies continue to remain vulnerable in the current environment, and keep consolidating lower after strong appreciation in the first half of January.
  • USDHUF has been trending higher today, breaking above the 319 level; next resistance to watch on the topside stands at 321.90 (50DMA).
  • USDPLN has been testing its 50DMA at 4.0690 in the past two days after retracing sharply higher; a break above that level would open the door for a move up to 4.10.
  • USDCZK ticks higher today, currently trading slightly above its 200DMA at 21.6870; next resistance to watch on the topside stands at 22 (100DMA).
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