12 May 2015
DXY drops to lows near 94.30
FXStreet (Edinburgh) - The US Dollar Index, which measures the greenback vs. its main rivals, is shedding recent gains and is now hovering over 94.30/25, or session lows.
DXY in 3-day lows
The index is retracing the spike to the area of 95.30 posted on Tuesday following the upbeat tone post-Payrolls, although the up move seems to have run out of legs so far amidst a strong resurgence of the risk-on trade.
Ahead in the session, the NFIB’s Business Optimism index and the speech by FOMC Williams will be the only releases today, ahead of tomorrow’s more significant Retail Sales.
DXY relevant levels
The index is now retreating 0.77% at 94.28 and a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).
DXY in 3-day lows
The index is retracing the spike to the area of 95.30 posted on Tuesday following the upbeat tone post-Payrolls, although the up move seems to have run out of legs so far amidst a strong resurgence of the risk-on trade.
Ahead in the session, the NFIB’s Business Optimism index and the speech by FOMC Williams will be the only releases today, ahead of tomorrow’s more significant Retail Sales.
DXY relevant levels
The index is now retreating 0.77% at 94.28 and a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.53 (low Feb.6). On the upside, the immediate resistance lines up at 95.25 (high May 11) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29).