19 Feb 2015
DXY consolidates above 94.00
FXStreet (Edinburgh) - The greenback, gauged by the US dollar index, is advancing for the second consecutive session on Thursday, attempting to consolidate above the 94.00 mark.
DXY digested FOMC minutes
The dovish tone from the FOMC minutes triggered an ephemeral correction to the 94.20 area from session highs around 94.60 on Wednesday. However, the USD upside remerged today and saw its bid tone accelerated following the deterioration in the debt talks between Greece and its EU peers.
In the data space, the index largely ignored the mixed results from the US docket, showing better-than-expected Initial Claims and a drop in the manufacturing survey tracked by the Philly Fed.
DXY important levels
The index is now up 0.34% at 94.46 with the next resistance at 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.87 (low Feb.17) would expose 93.39 (low Feb.3).
DXY digested FOMC minutes
The dovish tone from the FOMC minutes triggered an ephemeral correction to the 94.20 area from session highs around 94.60 on Wednesday. However, the USD upside remerged today and saw its bid tone accelerated following the deterioration in the debt talks between Greece and its EU peers.
In the data space, the index largely ignored the mixed results from the US docket, showing better-than-expected Initial Claims and a drop in the manufacturing survey tracked by the Philly Fed.
DXY important levels
The index is now up 0.34% at 94.46 with the next resistance at 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.87 (low Feb.17) would expose 93.39 (low Feb.3).