27 Jun 2013
US Dollar Index testing 83.00
Fxstreet.com (Edinburgh) - The greenback, in terms of the US Dollar index, is back to the negative ground on Thursday, challenging the key support at 83.00.
Better data from the US economy prompted investors to start re-considering the Fed scaling back its stimulus programme sooner, paving the way for further USD upside. “The Fed tapering story is likely to remain popular so long as the run of data is at least decent. DXY is a buy on dips, with EUR and CHF weakness key contributors”, commented the research team at Westpac.
As of writing, the index is down 0.05% at 83.18 with the next support at 82.50, 82.15 and 81.95. On the upside, resistance levels align at 83.15, 83.40 and 83.65.
Better data from the US economy prompted investors to start re-considering the Fed scaling back its stimulus programme sooner, paving the way for further USD upside. “The Fed tapering story is likely to remain popular so long as the run of data is at least decent. DXY is a buy on dips, with EUR and CHF weakness key contributors”, commented the research team at Westpac.
As of writing, the index is down 0.05% at 83.18 with the next support at 82.50, 82.15 and 81.95. On the upside, resistance levels align at 83.15, 83.40 and 83.65.