US Dollar eases from highs, back near 100.50

The US Dollar Index – which tracks the buck vs. its main rivals – seems to have found quite a strong hurdle around today’s tops at 100.60 so far.

US Dollar offered post-US data

Despite the ongoing correction from daily tops, the index manages well to keep the trade in the area of 3-week peaks for the time being, consolidating at the same time the breakout of the psychological 100.00 handle.

USD has practically ignored today’s trade balance results, which showed February’s trade deficit coming in lower than initially estimated, as market participants seem to be shifting their attention to the upcoming ADP report, Non-farm Payrolls and another vote on the American Health Care Act (probably on Friday).

In the meantime, US yields are extending the bounce of daily troughs, somewhat limiting the buck’s downside DXY faces the interim resistance at 100.60, today’s tops and the 55-day sma.

US Dollar relevant levels

The index is up 0.20% at 100.56 and a break above 100.61 (55-day sma) would open the door to 101.09 (100-day sma) and then 101.66 (high Mar14). On the flip side, the next support aligns at 99.50 (low Mar.29) followed by 98.92 (low Mar.28) and finally 98.67 (low Mar.27).