US Dollar keeps gains near 95.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback, tracked by the US Dollar Index, has managed to bounce off fresh lows near 94.50 and to regain the 95.00 handle and beyond.

    US Dollar rebounds from multi-month troughs

    The index advanced to the area of daily highs near 95.20 earlier in the session, although the bullish attempt has run out of steam soon afterwards. The buying interest in the greenback has re-emerged at the end of the week following a violent sell-off after Wednesday’s FOMC gathering, with the index visiting levels last seen in mid-October 2015.

    On the US data front, the advanced Reuters/Michigan index has missed expectations for the current month, although market participants will pay more attention to the upcoming speeches by FOMC’s Rosengren and Bullard.

    US Dollar relevant levels

    The index is up 0.16% at 94.92 and a breakout of 95.57 (low post-FOMC Mar.16) would expose 97.00 (20-day sma) and then 97.70 (55-day sma). On the other hand, the immediate support aligns at 94.19 (monthly low Sep.18 2015) followed by 93.83 (monthly low Oct.15 2015) and finally 93.30 (monthly low Jun.18 2015).
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