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US Dollar testing highs near 99.30

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, is advancing for the second consecutive session and is currently flirting with daily highs around 99.30/35.

    US Dollar supported at 99.00

    The dollar has seen its upside renewed in response to the events in France last Friday, trading on a firmer footing vs. its G10 peers amidst a persistent risk-off environment.

    On the data space, markets have largely ignored the poor print from the Empire State index, coming in at -10.74 for the current month vs. -5.0 expected and -11.36 previous. Next of relevance for USD will be October’s CPI figures due tomorrow.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.42% at 99.30 with the next hurdle at 99.50 (high Nov.10) followed by 100.00 (psychological level) and finally 100.38 (2015 high Mar.13). On the other hand, a drop below 98.23 (76.4% Fibo of 93.83-99.60) would aim for 97.39 (61.8% Fibo of 93.83-99.60) and then 96.55 (100-day sma).
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