DXY weaker, challenges 93.00 ahead of data

The greenback, tracked by the US Dollar Index, remains on the defensive this week, now testing lows in the boundaries of the 93.00 mark.

US Dollar lower on risk appetite

The index has slipped towards fresh multi-week lows in the vicinity of the 93.00 handle today following a rising sentiment towards the risk-associated assets ahead of the outcome of the EU-UK Referendum.

USD is now sharply lower, retracing most of the May bull run to the vicinity of the key barrier at 96.00 the figure.

Ahead in the session and apart from the referendum in the UK, Initial Claims, New Home Sales and Markit’s manufacturing PMI are all due in the US docket.

US Dollar relevant levels

The index is losing 0.58% at 93.27 facing the next support at 92.76 (78.6% Fibo of the May up move) ahead of 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3). On the other hand, a breakout of 94.19 (high Jun.21) would aim for 94.48 (20-day sma) en route to 95.53 (high Jun.16).