--- title: "Stagflation risk rises! Dollar index, USD/JPY, AUD/USD, NVIDIA technical analysis" type: "News" locale: "en" url: "https://longbridge.com/en/news/280017180.md" description: "The US dollar index fell sharply by 1.07% due to bearish market sentiment, reaching 98.9, indicating an increased risk of stagflation. Although Powell stated that the economy is not in severe stagflation, geopolitical tensions are exacerbating inflation uncertainty. The European Central Bank may consider raising interest rates due to price pressures. The USD/JPY faces a psychological barrier at 160.0, with increased volatility, and investors need to remain cautious. In the short term, the strength of the US dollar is difficult to reverse, and gold is affected by multiple bearish factors" datetime: "2026-03-20T09:21:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280017180.md) - [en](https://longbridge.com/en/news/280017180.md) - [zh-HK](https://longbridge.com/zh-HK/news/280017180.md) --- # Stagflation risk rises! Dollar index, USD/JPY, AUD/USD, NVIDIA technical analysis Investment Insights - Intraday Focus Although Federal Reserve Chairman Jerome Powell stated that the issues facing the U.S. economy are not severe enough to be termed stagflation, the uncertainty surrounding inflation prospects has clearly intensified against the backdrop of escalating tensions in the Middle East. European Central Bank Governing Council member Nagel indicated that if the Iran conflict leads to further price pressures, the European Central Bank will need to consider raising interest rates next month. Historically, major central banks tend to prioritize suppressing inflation expectations over economic growth when faced with stagflation. Meanwhile, newly appointed Federal Reserve Chairman Waller emphasized balance sheet reduction and interest rate cuts, making the outlook for Federal Reserve monetary policy equally noteworthy. In the short term, as long as control over the Strait of Hormuz remains unresolved, this suggests that the U.S. dollar's strength may not truly reverse in the near term. Gold, on the other hand, is being pressured by delayed interest rate cut expectations, geopolitical risk impacts, and a strong dollar. U.S. Dollar Index: Watch 101.30 above, 98.0 below The U.S. Dollar Index fell sharply by 1.07% on Thursday (March 19), breaking through the 100 mark and hitting a low of 98.9. Notably, the 1.07% decline is the largest in two months, highlighting an increased bearish sentiment towards the dollar. While this does not indicate an immediate reversal for the dollar, it is still a signal worth noting. If the U.S. Dollar Index faces resistance at 101.30 during a rebound, the downward trend that has persisted since January 2025 is likely to continue, with subsequent tests expected at the 98.0 or even 95.0 levels. To reverse the downward trend, a decisive breakthrough above the 101.30 level is required. U.S. Dollar Index Daily Chart: Image source: tradingview Support Levels: 99.0, 98.0, 95.0 Resistance Levels: 100.0, 101.30, 104.0 USD/JPY: Still likely to challenge 160.0, but volatility risks are increasing The USD/JPY fell 1.35% on Thursday (March 19), hitting a low of 157.51. It is noteworthy that the USD/JPY faces a psychological barrier at 160.0. Although it cannot be ruled out that it may still challenge this resistance level in the short term, given the increasing volatility, investors are advised to remain cautious and focus on the gains and losses around the 160.0 level. If the USD/JPY stabilizes at 157.0, it may still rebound to challenge the psychological barrier at 160.0. However, if the USD/JPY fails to effectively break through 160.0, caution is warranted as the upward trend since April 2025 may face a reversal USD/JPY Daily Chart: Image source: tradingview Support levels: 157.0, 154.0, 152.0 Resistance levels: 160.0, 162.0, 164.0 AUD/USD: Holding steady at the 0.7 integer level AUD/USD rose 0.91% on Thursday (March 19), reaching a high of 0.7109. Notably, AUD/USD has repeatedly tested the 0.7 integer level over the past month and a half. Sustained stability above this level indicates strong bullish sentiment. If AUD/USD holds above 0.7000, it is expected to rebound and challenge levels of 0.7200 or even 0.7500. To reverse the upward trend, it would need to fall below the 0.6900 level. The time window to focus on is March 30. AUD/USD Daily Chart: Image source: tradingview Support levels: 0.7000, 0.6900, 0.6750 Resistance levels: 0.7200, 0.7300, 0.7500 NVIDIA: Head and Shoulders pattern, focus on the 172.0 level NVIDIA fell 1% on Thursday (March 19), marking three consecutive days of decline. Notably, the daily chart for NVIDIA shows a head and shoulders pattern. If it subsequently breaks below the neckline or even falls below the 172.0 level, it can be seen as the establishment of a downward trend. If NVIDIA falls below 172.0, it is expected to test lower levels of 148.0 or even 135.0. To reverse the downward trend, it would need to effectively stabilize above the 180.0 level. NVIDIA Daily Chart: !\[\](https://imageproxy.pbkrs.com/https://resource.mistorebox.com/insights/cms\_uploads/uedimg/20260320/17739984051889.png? x-oss-process=image/auto-orient,1/interlace,1/resize,w\_1440,h\_1440/quality,q\_95/format,jpg) Image source: tradingview Support levels: 172.0, 148.0, 135.0 Resistance levels: 180.0, 190.0, 200.0 ### Related Stocks - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [AEM.US](https://longbridge.com/en/quote/AEM.US.md) - [KGC.US](https://longbridge.com/en/quote/KGC.US.md) - [GOLD.US](https://longbridge.com/en/quote/GOLD.US.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [02824.HK](https://longbridge.com/en/quote/02824.HK.md) - [GOEX.US](https://longbridge.com/en/quote/GOEX.US.md) - [JNUG.US](https://longbridge.com/en/quote/JNUG.US.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [USDU.US](https://longbridge.com/en/quote/USDU.US.md) - [UUP.US](https://longbridge.com/en/quote/UUP.US.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [NUGT.US](https://longbridge.com/en/quote/NUGT.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [82824.HK](https://longbridge.com/en/quote/82824.HK.md) - [GDXY.US](https://longbridge.com/en/quote/GDXY.US.md) - [DBP.US](https://longbridge.com/en/quote/DBP.US.md) - [GOAU.US](https://longbridge.com/en/quote/GOAU.US.md) - [GDXW.US](https://longbridge.com/en/quote/GDXW.US.md) - [09196.HK](https://longbridge.com/en/quote/09196.HK.md) - [DUST.US](https://longbridge.com/en/quote/DUST.US.md) - [SGDJ.US](https://longbridge.com/en/quote/SGDJ.US.md) - [600489.CN](https://longbridge.com/en/quote/600489.CN.md) - [GLTR.US](https://longbridge.com/en/quote/GLTR.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [159562.CN](https://longbridge.com/en/quote/159562.CN.md) - [83196.HK](https://longbridge.com/en/quote/83196.HK.md) - [SGDM.US](https://longbridge.com/en/quote/SGDM.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [GDXJ.US](https://longbridge.com/en/quote/GDXJ.US.md) - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) ## Related News & Research - [Cotton Back to Mixed Trade at Wednesday’s Midday](https://longbridge.com/en/news/287108228.md) - [Gold prices weaken: two big reasons bullion is under pressure](https://longbridge.com/en/news/287006576.md) - [AGNICO EAGLE ANNOUNCES INVESTMENT IN WALLBRIDGE MINING COMPANY LIMITED | AEM Stock News](https://longbridge.com/en/news/287063692.md) - [Lamda wins cloud deal with Hudson River Trading to supply access to Nvidia chips](https://longbridge.com/en/news/287059961.md) - [Wallbridge to Advance Fenelon to Pre-Feasibility Study with Strategic Investments from Agnico Eagle and Waratah for Approximately C$56 Million](https://longbridge.com/en/news/287054242.md)