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US Dollar regains 97.00 and beyond

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, has recovered the smile, advancing to session highs above 97.00 the figures after US Payrolls.

    US Dollar boosted by US data

    The index has managed to surpass the 97.00 handle after US Non-farm Payrolls showed the economy has created 151K jobs during January, missing estimates at 190K and down from December’s revised 262K.

    On the brighter side, Average Hourly Earnings advanced at a monthly pace of 0.5%, bettering expectations.

    The index is thus extending the rebound from multi-week lows in the 96.20 area, somewhat recovering part of this week’s (very) deep pullback.

    US Dollar significant levels

    As of writing the US Dollar Index is gaining 0.67 % at 97.16 facing the next hurdle at 97.88 (100-day sma) followed by 98.77 (55-day sma) and then 99.88 (high Jan.29). On the flip side, a breakdown of 96.26 (low Feb.4) would aim for 95.43 (76.4% Fibo of 93.83-100.60) and then 93.86 (low Oc.14).
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