US Dollar treading water above 100.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, is clinging to its daily gains vs. its rivals and managing to keep the trade above the 100.00 handle.

    US Dollar unchanged post-data

    The greenback remains on the upper end of the recent range, trading in multi-month highs above the psychological handle at 100.00, bolstered by solid expectations of a rate hike by the Federal Reserve at its meeting in December.

    Today’s data in the US calendar have been largely ignored by market participants, where the Chicago PMI and October’s Pending Home Sales have come in short of expectations. On the brighter side, the Dallas Fed Manufacturing Business Index have improved to -4.9 for the current month from -12.7 in the previous month.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.19% at 100.24 with the next resistance at 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 97.17 (55-day sma) and finally 94.95 (3-month uptrend).
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