US Dollar weaker, returns to 95.20

The greenback, tracked by the US Dollar Index, is extending its downside today, currently testing the 95.20 area.

US Dollar lower ahead of data, Fedspeak 

The index is posting its second consecutive session with losses, extending the leg lower after being rejected from recent multi-week highs around 95.70 on renewed USD selling.

Ahead in the session, USD will take centre stage in light of the releases of Initial Claims, Pending Home Sales and Durable Goods Orders, along with speeches by FOMC’s Bullard and Powell.

US Dollar relevant levels

The index is losing 0.16% at 95.20 and a breakdown of 95.11 (low May 23) would target 94.74 (55-day sma) and then 94.33 (20-day sma). On the other hand, the initial up barrier aligns at 95.66 (high May 25) followed by 96.15 (100-day sma) and finally 96.42 (high Mar.28).