US Dollar near 94.50, off highs post-US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback, tracked by the US Dollar Index, has lost some momentum following the release of US data, leaving behind session highs near 94.70.

    US Dollar a tad softer on US releases

    The index keeps the buoyant tone today, advancing for the second consecutive session in spite of US Retail Sales and Producer Prices have come in below expectations during March.

    Headline Sales have contracted 0.3% inter-month and producer prices dropped 0.1% MoM, both missing previous estimates and in turn alleviating some upside pressure around USD.

    US Dollar relevant levels

    The index is advancing 0.62% at 94.55 with the next hurdle at 94.95 (20-day sma) followed by 95.51 (38.2% Fibo of 98.59-93.62) and finally 96.42 (high Mar.28). On the other hand, a break below 93.62 (2016 low Apr.12) would target 92.52 (monthly low Aug.24 2015) en route to 91.50 (low Jan.15 2015).
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