US Dollar finds support at 93.00

The US Dollar Index, which tracks the greenback vs. its main rivals, is extending its weekly decline today, although it seems to have found decent support near 93.00 for the time being.

US Dollar bid after data, focus on UK results

USD is retreating for the second consecutive week to levels last seen in early May in the 93.00 neighbourhood, as the risk-on theme has been gathering traction along with increasing expectations of a ‘Remain’ win at today’s EU-UK Referendum.

In the US data space, Initial Claims (259K) and Markit’s Manufacturing PMI (51.4) have come in above expectations, while New Home Sales dropped less than estimated in May, 6% to an annualized 551K units.

US Dollar relevant levels

The index is now losing 0.34% at 93.50 facing the next support at 92.76 (78.6% Fibo of the May up move) ahead of 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3). On the other hand, a breakout of 94.19 (high Jun.21) would aim for 94.48 (20-day sma) en route to 95.53 (high Jun.16).