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4 May 2015
DXY drops to lows, US data eyed
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main competitors, is giving away initial gains and is currently testing the area of 95.20, or daily lows.
DXY turns negative
The index has reverted an auspicious start managing to climb to intraday tops beyond 95.60, although the up move lacked follow through, triggering the current knee-jerk.
The USD is now posting meagre losses after the strong recovery last Friday, ahead of US Factory Orders due later, with prior surveys expecting a monthly advance of 2.0% during March.
DXY relevant levels
The index is now losing 0.05% at 95.25 and a breach of 94.50 (low May 1) would aim for 94.40 (low Apr.30) and then 94.06 (low Feb.26). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).
DXY turns negative
The index has reverted an auspicious start managing to climb to intraday tops beyond 95.60, although the up move lacked follow through, triggering the current knee-jerk.
The USD is now posting meagre losses after the strong recovery last Friday, ahead of US Factory Orders due later, with prior surveys expecting a monthly advance of 2.0% during March.
DXY relevant levels
The index is now losing 0.05% at 95.25 and a breach of 94.50 (low May 1) would aim for 94.40 (low Apr.30) and then 94.06 (low Feb.26). On the upside, the initial hurdle lines up at 95.62 (high May 4) ahead of 96.18 (high Apr.29) and finally 96.93 (high Apr.28).