US Dollar supported near 96.30 ahead of Beige Book

The greenback, in terms of the US Dollar Index, remains on the defensive today, currently navigating the 96.35/40 band.

US Dollar upside capped around 96.80

The index is extending its consolidative theme in the upper bound of the recent range, with the upside so far limited in the 96.80/90 area, June/July peaks, and all amidst a continuation of the risk-on sentiment.

Data wise in the US docket, Export/Import Price index are due later in the session, ahead of the speech by FOMC’s Kaplan and the Fed’s Beige Book.

US Dollar relevant levels

The index is losing 0.04% at 96.40 and a breakdown of 95.54 (20-day sma) would target 95.38 (low Jul.5) en route to 95.21 (100-day sma). On the flip side, the next hurdle aligns at 96.86 (high Jun.27) followed by 97.09 (high Mar.16) and finally 98.58 (high Mar.1).