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US Dollar firmer around 97.80

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, extends its recovery to the 97.70 area on Thursday, trimming part of yesterday’s losses.

    US Dollar supported around 97.20

    The greenback has managed to recover from Wednesday’s lows near 97.20 following a softer tone in the risk-associated space. The index remains well supported by US Treasuries yields so far in spite of the lower-than-expected results from Initial Claims during last week.

    Moving forward to tomorrow’s calendar in the US economy, Retail Sales will take centre stage, followed by Producer Prices and the Consumer Sentiment gauged by the Reuters/Michigan index.

    US Dollar significant levels

    As of writing the US Dollar Index is advancing 0.46% at 97.78 and a break above 99.00 (23.6% Fibo of 93.83-100.60) would aim for 100.00 (psychological handle) and finally 100.60 (high Dec.3). On the other hand, the immediate support lines up at 97.51 (low Dec.9) followed by 96.77 (200-day sma) and finally 95.25 (4-month uptrend).
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