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2 Mar 2015
DXY consolidates above 95.00
FXStreet (Edinburgh) - The US Dollar Index, which measures the greenback against a basket of its main competitors, has reverted an initial drop and is now meandering around the mid-95.00s.
DXY indifferent to poor US data
The greenback is extending last week’s strength, looking to consolidate a sustainable break above 95.00 the figure in light of key events ahead in the week. In the data front, the dollar well managed to shrug off poor results from the significant US ISM Manufacturing, finding decent support around 95.10/00.
Second tier docket in the US economy on Tuesday will leave traders to focus on the more relevant ADP report, ISM Non manufacturing and Fed’s Beige Book on Wednesday.
DXY levels to consider
The index is now up 0.16% at 95.44 with a next resistance at of 95.77 (high Jan.23) followed by 95.84 (high Jan.26) and finally the psychological handle at 96.00. On the downside, a breakdown of 94.07 (low Feb.26) would expose 93.90 (low Feb.19) and finally 93.87 (low Feb.17).
DXY indifferent to poor US data
The greenback is extending last week’s strength, looking to consolidate a sustainable break above 95.00 the figure in light of key events ahead in the week. In the data front, the dollar well managed to shrug off poor results from the significant US ISM Manufacturing, finding decent support around 95.10/00.
Second tier docket in the US economy on Tuesday will leave traders to focus on the more relevant ADP report, ISM Non manufacturing and Fed’s Beige Book on Wednesday.
DXY levels to consider
The index is now up 0.16% at 95.44 with a next resistance at of 95.77 (high Jan.23) followed by 95.84 (high Jan.26) and finally the psychological handle at 96.00. On the downside, a breakdown of 94.07 (low Feb.26) would expose 93.90 (low Feb.19) and finally 93.87 (low Feb.17).