US Dollar eyes fresh tops around 91.20

• The greenback gathers further pace and tests new 3-month highs.
• US 10-year yields hit fresh tops around 3.03%.
• US crude oil supplies by the EIA next on tap.

Measured by the US Dollar Index (DXY), the greenback is prolonging the up move and record fresh 3-month tops in the 91.20 region.

US Dollar sustained by higher yields

The index extends the upside momentum further north of the critical 91.00 handle today, always on the back of rising US yields.

The upbeat mood around US yields has been the exclusive driver behind the recent rally from lows in the 89.20 area seen on April 18, while yields of the key US 10-year reference are looking to stabilize above the recently broken 3.0% level.

In addition, upbeat results as of late in the US calendar have also lent fresh oxygen to the buck’s momentum.

Later in the session, the EIA will publish its weekly report on US crude oil supplies.

US Dollar relevant levels

As of writing the index is up 0.39% at 91.15 and a break above 91.70 (50% Fibo of 95.15-88.25) would aim for 92.02 (200-day sma) and finally 92.52 (61.8% Fibo of 95.15-88.25). On the other hand, the next support lines up at 90.69 (100-day sma) followed by 90.12 (10-day sma) and then 89.95 (high Apr.20).