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US Dollar in session highs above 100.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback against a basket of its main rivals, keeps pushing higher today, now advancing to fresh highs near 100.20.

    US Dollar in 8-month highs

    The renewed buying interest around the greenback is lifting the index to the vicinity of 100.30 and closer to YTD highs at 100.38 recorded in March, all against the backdrop of reduced activity in the US markets and increasing speculations of a Fed’s lift-off next month.

    The US dollar will take centre stage next week, in light of Chairwoman J.Yellens’s testimonies and the critical ECB meeting, where the central bank could announce additional easing measures.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.35% at 100.21 with the next resistance at 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 97.01 (55-day sma) and finally 94.90 (3-month uptrend).
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