US Dollar slumps to lows near 99.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  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. its main rivals, is now intensifying the decline to fresh lows near 99.00 the figure.

    US Dollar lower post-FOMC

    The dovish tone from yesterday’s FOMC minutes keeps weighing on USD today, now sending the index to 3-day lows in the 99.00 neighbourhood after Wednesday’s highs in levels just below the psychological 100.00 mark.

    Today’s results in the US docket, despite better than expected, have failed to curb the bearish sentiment around the greenback, which seems to have found quite decent support around 99.10/00 so far.

    Ahead in the session, speeches by Fed’s Lockhart and Fischer will be under the microscope, specially following yesterday’s minutes.

    US Dollar significant levels

    As of writing the US Dollar Index is down 0.52% at 99.15 facing the next support at 98.50 (low Nov.12) followed by 96.62 (100-day sma) and finally 94.72 (3-month uptrend). On the upside, a break above100.00 (psychological level) would expose 100.38 (2015 high Mar.13).
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