26 Mar 2015
DXY rebounds from 96.30
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, extends its selling mood today and its currently hovering over the 96.70 area.
DXY on its way to 94.80?
The index is retreating for the second consecutive week so far, down from levels above the psychological mark at 100.00 posted in mid-March. Market participants continue to gauge the recent FOMC revisions, adding to the selling pressure around the dollar and opening the door for a re-test of the post-FOMC meeting around 94.80.
Ahead in the day, Initial Claims and Markit’s Services PMI are due in the US economy, followed by Fed’s Lockhart.
DXY levels to consider
The index is now retreating 0.47% at 96.52 with the next support at 96.41 (low Mar.18) ahead of 96.30 (low Mar.6) and finally 95.84 (low Mar.5). On the upside, a breakout of 98.23 (high Mar.23) would aim for 99.11 (high Mar.20) and then 99.46 (high Mar.19).
DXY on its way to 94.80?
The index is retreating for the second consecutive week so far, down from levels above the psychological mark at 100.00 posted in mid-March. Market participants continue to gauge the recent FOMC revisions, adding to the selling pressure around the dollar and opening the door for a re-test of the post-FOMC meeting around 94.80.
Ahead in the day, Initial Claims and Markit’s Services PMI are due in the US economy, followed by Fed’s Lockhart.
DXY levels to consider
The index is now retreating 0.47% at 96.52 with the next support at 96.41 (low Mar.18) ahead of 96.30 (low Mar.6) and finally 95.84 (low Mar.5). On the upside, a breakout of 98.23 (high Mar.23) would aim for 99.11 (high Mar.20) and then 99.46 (high Mar.19).