US Dollar turns positive near 95.50

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The greenback, gauged by the US Dollar Index, has returned to the positive territory on Wednesday after bottoming out in the 95.35/30 band.

    US Dollar remains vulnerable

    The lack of relevant releases in the US docket today has left USD to the mercy of the risk trends, and is now looking to recover part of its initial shine. Ahead in the session, US Consumer Credit Change will be the only release of note, expected at $19.0 billion during August.

    The dollar will remain under pressure however, in light of tomorrow’s FOMC minutes and the speeches by FOMC’s Bullard, Kocherlakota and Williams.

    US Dollar levels to consider

    At the moment the index is up 0.04% at 95.48 with the next support at 94.06 (low Sep.18) ahead of 93.72 (low Aug.26) and finally 93.25 (low Aug.25). On the other hand, a break above 96.49 (high Oct.1) would open the door to 96.70 (high Sep.25) and then 97.07 (high Aug.19).
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