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US Dollar trims losses, near 99.60

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 18, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, has regained the proximity of 99.60 backed by mixed results from US housing data.

    US Dollar supported at 99.40

    The index has managed to bounce off session lows in the 99.40 area following mixed results from US Building Permits and Housing Starts for the month of October, all ahead the FOMC minutes due later in the day.

    Market participants see the Committee pointing to a Fed’s lift-off in the next month, despite some dissent amongst members regarding inflation prospects, labour market performance or the size of the hike.

    US Dollar significant levels

    As of writing the US Dollar Index is down 0.10% at 99.62 facing the next support at 98.50 (low Nov.12) followed by 96.49 (1200-day sma) and finally 94.64 (3-month uptrend). On the upside, a break above100.00 (psychological level) would expose 100.38 (2015 high Mar.13).
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