Back
23 Feb 2015
DXY firm around 94.70
FXStreet (Edinburgh) - The greenback, tracked by the US dollar index, is trading around 94.70 on Monday, retracing the spike to multi-day tops around 95.00.
DXY stronger ahead of Yellen
The index seems to extends its consolidation patter between the upper-93.00s and the 95.00 area, while market participants keep their focus on tomorrow’s testimony by Chairwoman Janet Yellen. Poor data from the US docket today have not discourage the USD bulls, which continues to advance vs. its major rival with the exception of the Japanese yen and the sterling.
DXY levels to consider
The index is now up 0.30% at 94.69 with the next resistance at 94.89 (high Feb.20) followed by 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.90 (low Feb.19) would aim for 93.87 (low Feb.17) and finally 93.39 (low Feb.3).
DXY stronger ahead of Yellen
The index seems to extends its consolidation patter between the upper-93.00s and the 95.00 area, while market participants keep their focus on tomorrow’s testimony by Chairwoman Janet Yellen. Poor data from the US docket today have not discourage the USD bulls, which continues to advance vs. its major rival with the exception of the Japanese yen and the sterling.
DXY levels to consider
The index is now up 0.30% at 94.69 with the next resistance at 94.89 (high Feb.20) followed by 95.10 (high Feb.12) and then 95.23 (high Feb.11). On the downside, a break below 93.90 (low Feb.19) would aim for 93.87 (low Feb.17) and finally 93.39 (low Feb.3).