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US Dollar stronger, regains 94.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, has reverted the initial negative trend and has now advanced to session tops in the 94.50/60 band.

    US Dollar bolstered by US CPI

    Auspicious results from US inflation figures during September have revived the dollar today, currently snapping a 5-day negative streak and somehow reverting the negative trend that has been prevailing since October kicked in.

    After dropping to levels last seen in late August around 93.90, positive releases in the US economy has helped the index to recover the smile, at least until today’s speeches by Fed’s Bullard, Dudley and Mester.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.44% at 94.39 facing the next support at 93.30 (monthly low Jun.28) ahead of 92.59 (low post-PBoC move Aug.24) and finally 90.00 (psychological level). On the upside, a break above 94.77 (38.2% Fibo of 98.40-92.52) would aim for 95.46 (50% Fibo of 98.40-92.52) and then 95.91 (55-day sma).
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