21 May 2015
DXY consolidates around 95.20
FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, remains in the red territory on Thursday, looking to stabilize around 95.20/30.
DXY supported at 95.00
The US dollar has been trading on the defensive camp since the opening bell in Euroland. The neutral tone in yesterday’s FOMC minutes sparked a profit taking bias amongst traders, which have ultimately prevailed throughout the session.
Another set of disappointing results in the US docket – Existing Home Sales, Markit’s PMI, Philly Fed Survey - did nothing to curb the offered tone prevailing around the USD, albeit the 95.00 neighbourhood was capable of holding the sellers.
DXY relevant levels
The index is now retreating 0.20% at 95.26 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).
DXY supported at 95.00
The US dollar has been trading on the defensive camp since the opening bell in Euroland. The neutral tone in yesterday’s FOMC minutes sparked a profit taking bias amongst traders, which have ultimately prevailed throughout the session.
Another set of disappointing results in the US docket – Existing Home Sales, Markit’s PMI, Philly Fed Survey - did nothing to curb the offered tone prevailing around the USD, albeit the 95.00 neighbourhood was capable of holding the sellers.
DXY relevant levels
The index is now retreating 0.20% at 95.26 with the immediate support at 94.08 (low May 19) ahead of 93.27 (low May 18) and then 93.17 (low May 14). On the upside, a break above 95.83 (high May 20) would aim for 96.18 (high Apr. 29) and finally 96.93 (high Apr.28).