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US Dollar drops further post-data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback, in terms of the US Dollar Index, has left the area of session highs above the 95.00 handle and returned to the current 94.70/65 region.

    US Dollar weaker on data

    After reaching weekly highs near 95.20 on Thursday, USD has sparked a correction lower recently accelerated after US Capacity utilization and Industrial Production have come in below forecasts for the month of March, adding to the poor performance from Retail Sales during the same period.

    Further data showed the advanced Reuters/Michigan index, which gauges US Consumer Sentiment, coming in at 89.7 vs. 92.0 expected and 91.0 previous.

    US Dollar relevant levels

    The index is down 0.28% at 94.67 with the next support at 93.62 (2016 low Apr.12) ahead of 93.16 (monthly low May.15 2015) and finally 92.52 (monthly low Aug.24 2015). On the other hand, a breakout of 95.21 (high Apr.14) would aim for 95.51 (38.2% Fibo of 98.59-93.62) and then 96.27 (55-day sma).
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