US Dollar challenges highs near 99.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, is recovering part of yesterday’s drop and is returning to the 99.50 area.

    US Dollar bounces off 99.00

    The index has managed to gather traction from overnight lows in the vicinity of the key support at 99.00 the figure, as the buying interest seems to have returned to USD after the deep sell-off post-FOMC minutes.

    Nothing worth mentioning in the US docket today, with the speech by St. Louis Fed’s J.Bullard only scheduled for later in the NA session.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.35% at 99.42 with the next resistance at 100.00 (psychological level) followed by 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 96.64 (100-day sma) and finally 94.74 (3-month uptrend).
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