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US Dollar advances above 99.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The greenback, gauged by the US Dollar Index, is gathering further traction today, surpassing the 99.00 barrier, or session peaks.

    US Dollar in 2-day highs

    Good start of the week for the dollar so far, with the index advancing for the second consecutive session and looking to break above the 99.00 handle on a more sustainable basis.

    Absent relevant releases in the US economy during the first half of the week, the focus of attention will be on several speeches by Fed officials following the stellar Non-farm Payrolls and on December’s Retail Sales due on Friday.

    US Dollar significant levels

    As of writing the US Dollar Index is gaining 0.17% at 99.10 with the immediate resistance at 99.73 (high Jan.6) ahead of 100.00 (psychological level) and then 100.60 (2015 high Dec.3). On the other hand, a breakdown of 98.01 (38.2% Fibo of 93.82-100.60) would open the door to 97.31 (100-day sma) and finally 95.96 (5-month uptrend).
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