US Dollar bid around 95.00 post data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback, measured by the US Dollar Index, has reverted the initial negative tone and is now trading in daily highs around 95.00 the figure.

    US Dollar firmer post-US releases

    After a brief test of lows near 94.30, the index has managed to stage a rebound above the 95.00 handle in response to auspicious prints from today’s US calendar.

    In fact, Non-farm Payrolls showed the US economy has created 215K jobs during last month, surpassing expectations at 205K. In addition, ISM Manufacturing and the Reuters/Michigan index have followed suit, climbing above consensus to 51.8 and 91.0, respectively.

    Despite the correction higher, the index is closing the week in red figures, reverting last week’s advance and including a fresh YTD low at 94.30 posted yesterday.

    US Dollar relevant levels

    The index is advancing 0.49% at 95.05 and a breakout of 95.94 (20-day sma) ahead of 96.42 (high Mar.28) and finally 97.15 (200-day sma). On the other hand, the immediate support lines up at 94.30 (2016 low Mar.31) followed by 94.19 (monthly low Sep.18 2015) and then 93.83 (monthly low Oct.15 2015).
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