US Dollar retreats from 99.50

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. a basket of its main rivals, keeps the positive streak alive, advancing to the mid-99.00s, session highs.

    US Dollar in 2-week tops

    The index is advancing for the sixth straight session so far, posting fresh 2-week highs near 99.50 and trading closer to the psychological handle at 100.00 following a resurgence of the sentient towards the dollar.

    Inflation figures below expectations in the euro area during December have prompted investors to accelerate the flight to USD in detriment of riskier assets.

    Nothing of note data wise in the US calendar today, while Factory Orders, FOMC minutes (Wednesday) and Non-farm Payrolls (Friday) will take centre stage in the upcoming sessions.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.51% at 99.43 facing the next up barrier at 100.00 (psychological level) and then 100.60 (2015 high Dec.3). On the flip side, a breach of 97.21 (23.6% Fibo of 93.82-100.60) would open the door to 97.13 (100-day sma) and finally 95.83 (5-month uptrend).
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