US Dollar keeps highs near 97.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback, gauged by the US Dollar Index, is sharply appreciating vs. its main rivals on Tuesday, flirting with daily tops in the mid-97.00s.

    US Dollar gives away gains post-US releases

    The index has abandoned the area of session highs after another disappointment from the US docket. This time Factory Orders have contracted more than expected 1.0% on a monthly basis during September and November’s Business Optimism Index measured by IBD/TIPP has printed 45.5 vs. 47.5 forecasted and 47.3 previous.

    The positive tone from US Treasuries remains the almost exclusive source of USD strength today, pushing the index closer to recent tops near 97.90.

    US Dollar significant levels

    As of writing the US Dollar Index is advancing 0.48% at 97.46 facing the next hurdle at 97.89 (high post-FOMC Oct.28) followed by 98.40 (monthly high Aug.7) and finally 99.00 (psychological level). On the flip side, a breach of 96.51 (low Oct.28) would aim for 96.34 (61.8% Fibo of 93.83-97.89) and then 95.87 (55-day sma).
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