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US Dollar keeps highs near 94.60

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The greenback, in terms of the US Dollar Index, has recovered the smile today, now advancing to daily highs near 94.60.

    US Dollar finds support near 94.00

    The index has managed to rebound from fresh 2016 lows in the 94.00 neighbourhood recorded after the European opening bell, as market participants were digesting yesterday’s FOMC minutes.

    In the data space, US Initial Claims have bettered estimates at 267K, sending the 4-Week Average to 266K, up from 263K. Next on tap will be the speeches by Chairwoman J.Yellen and Kansas City Fed’s E.George.

    US Dollar relevant levels

    The index is up 0.12% at 94.54 facing the next hurdle at 95.38 (20-day sma) followed by 95.77 (38.2% Fibo of 98.59-94.03) and finally 96.42 (high Mar.28). On the flip side, a breakdown of 94.03 (2016 low Apr.7) would expose 93.83 (monthly low Oct.15 2015).
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