US Dollar flirts with highs near 96.60

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback, measured by the US Dollar Index, is extending the recently sparked upside momentum, currently testing session peaks in the mid-96.00s.

    US Dollar up on sentiment

    The greenback is advancing further on Monday, prolonging the upbeat note after last Friday’s auspicious results from key US Retail Sales during January.

    The risk-on sentiment has been on the rise since today’s early trade in Asia, giving the dollar extra wings and pushing it to test the area of 4-day highs in the 96.50/60 band.

    The broad risk-appetite trends will be the exclusive drivers today amidst the inactivity in US markets due to the President’s Day holiday.

    US Dollar levels to watch

    The index is up 0.57% at 96.53 facing the next hurdle at 97.29 (200-day sma) ahead of 97.50 (high Feb.8) and then 98.28 (55-day sma). On the other hand, a breach of 95.43 (76.4% Fibo of 93.86-100.60) would target 94.19 (low Sep.18 2015) en route to 93.86 (low Oct.14).
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