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17 Apr 2015
DXY retakes 97.50
FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is closing the week on a better tone, managing to recover the positive territory near 97.60.
DXY supported at 97.00
Despite the current firmer tone, the index will not help closing the week with a significant pullback after being rejected from the 100.00 neighbourhood on Monday. The weekly decline accelerated further afterwards, following disappointing results from the US docket and a generalized dovish tone from Fed officials.
However, today’s auspicious releases from US CPI and the sentiment index tracked by Reuters/Michigan leave the door open for a potential recovery rally at the beginning of next week, in an
DXY relevant levels
The index is now advancing 0.10% at 97.50 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).
DXY supported at 97.00
Despite the current firmer tone, the index will not help closing the week with a significant pullback after being rejected from the 100.00 neighbourhood on Monday. The weekly decline accelerated further afterwards, following disappointing results from the US docket and a generalized dovish tone from Fed officials.
However, today’s auspicious releases from US CPI and the sentiment index tracked by Reuters/Michigan leave the door open for a potential recovery rally at the beginning of next week, in an
DXY relevant levels
The index is now advancing 0.10% at 97.50 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).