US Dollar edges up as Durable Goods data supports bullish case

• The DXY trades near the 104.30 area after a modest upward reaction to economic data.
• Traders weigh durable goods strength and fresh copper tariff comments against geopolitical ceasefire noise.
• Resistance aligns near 104.53, while 104.09 acts as short-term support.

The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is holding near the 104.30 zone during Wednesday's session. A better than expected print in February's Durable Goods Orders, coupled with hawkish rhetoric from Fed officials, is helping the Greenback edge higher. However, momentum indicators remain conflicted, hinting at a still fragile upside.

Daily digest market movers: US Dollar steadies as data, Fed comments offset risk sentiment shift

• The Greenback benefits from stronger than forecast US Durable Goods Orders for February, which also saw prior data revised upward.
• US President Donald Trump announced copper tariffs will arrive sooner than markets projected, aiding USD traction.
• A potential ceasefire in the Black Sea between Ukraine and Russia created early downside for the DXY, but peace talks face major hurdles.
• Russia's demands to lift all sanctions on agriculture and banking in exchange for ceasefire compliance cloud optimism.
• Fed's Neel Kashkari reiterated that inflation progress remains incomplete, reinforcing expectations for prolonged restrictive policy.
• Traders remain sensitive to PCE data this week amid rising uncertainty about the rate path.
• Market participants cautiously assess tariff headlines and geopolitical signals, balancing risk appetite against Fed tightening signals.

DXY technical analysis: Mildly bullish tone pervades market

The US Dollar Index shows a mildly bullish tone in Wednesday's session, trading within the 104.18-104.46 range. While the Moving Average Convergence Divergence (MACD) prints a slight buy signal, broader pressure remains bearish as the 20-day, 100-day, and 200-day Simple Moving Averages (SMAs) all signal selling.

The 30-day Exponential Moving Average (EMA) and SMA continue to act as upper barriers. The Relative Strength Index (RSI) appears neutral when paired with the stochastic, though short-term momentum remains weak. Key resistance lies at 104.43, 104.47 and 104.53, while immediate supports sit at 104.09 and 103.84.