26 Mar 2015
DXY keeps highs near 97.60
FXStreet (Edinburgh) - After dropping to the 96.20 area on Thursday, the index picked up pace and climbed as high as the 97.60 region, or session highs.
DXY boosted by data, GDP eyed
The US Dollar Index – which gauges the greenback against a basket of its major competitors – managed to trim most of the weekly losses so far, although it is still in the red territory. However, positive results from tomorrow’s docket in the US economy carry the potential to push the USD higher and revert the negative weekly performance.
Today’s solid data from US Initial Claims (282K act.) and Markit’s Services PMI (58.6 act.) helped the dollar to rapidly leave behind session lows in the 96.20, advancing as high as the vicinity of 97.60 afterwards.
DXY levels to consider
The index is now advancing 0.45% at 97.41 with the next hurdle at 98.23 (high Mar.23) ahead of 99.11 (high Mar.20) and then 99.46 (high Mar.19). On the flip side, a breakdown of 96.17 (low Mar.26) would open the door to 95.84 (low Mar.5) and finally 95.34 (low Mar.4).
DXY boosted by data, GDP eyed
The US Dollar Index – which gauges the greenback against a basket of its major competitors – managed to trim most of the weekly losses so far, although it is still in the red territory. However, positive results from tomorrow’s docket in the US economy carry the potential to push the USD higher and revert the negative weekly performance.
Today’s solid data from US Initial Claims (282K act.) and Markit’s Services PMI (58.6 act.) helped the dollar to rapidly leave behind session lows in the 96.20, advancing as high as the vicinity of 97.60 afterwards.
DXY levels to consider
The index is now advancing 0.45% at 97.41 with the next hurdle at 98.23 (high Mar.23) ahead of 99.11 (high Mar.20) and then 99.46 (high Mar.19). On the flip side, a breakdown of 96.17 (low Mar.26) would open the door to 95.84 (low Mar.5) and finally 95.34 (low Mar.4).