26 May 2015
DXY hovering over 97.00
FXStreet (Edinburgh) - The greenback, gauged by the US Dollar Index, is back to the 97.00 neighbourhood after climbing as high as 97.10 in early trade.
DXY attention to US releases
The index is trading in 4-week tops around the 97.00 handle during the first half of the week, recovering further from recent lows around the 93.00 mark. The upside momentum in the dollar remains propped up by increasing concerns around Greece and rising expectations of a Fed’s rate hike in the upcoming months, confirmed by recent appreciations by J.Yellen and S.Fischer.
Next of significance for the US dollar will be April’s Durable Goods Orders and New Home Sales ahead of Consumer Confidence during May.
DXY relevant levels
The index is now advancing 0.54% at 96.90 and a breakout of 97.12 (high May 26) would open the door to 97.27 (high Apr.27) and then 97.55 (high Apr.24). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).
DXY attention to US releases
The index is trading in 4-week tops around the 97.00 handle during the first half of the week, recovering further from recent lows around the 93.00 mark. The upside momentum in the dollar remains propped up by increasing concerns around Greece and rising expectations of a Fed’s rate hike in the upcoming months, confirmed by recent appreciations by J.Yellen and S.Fischer.
Next of significance for the US dollar will be April’s Durable Goods Orders and New Home Sales ahead of Consumer Confidence during May.
DXY relevant levels
The index is now advancing 0.54% at 96.90 and a breakout of 97.12 (high May 26) would open the door to 97.27 (high Apr.27) and then 97.55 (high Apr.24). On the downside, the immediate support lines up at 94.82 (low May 22) followed by 94.08 (low May 19) and finally 93.27 (low May 18).