US Dollar turns positive near 99.80

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. its main rivals, has recovered the positive territory in the vicinity of the 99.80 area.

    US Dollar reverts losses

    After bottoming out in the mid-99.00s, the index has managed to pick up pace and leave the area of session lows, all despite US docket has done nothing to support the dollar.

    In fact, Q3 GDP failed to ignite fresh upside bias, coming in as expected at 2.1%. Further releases showed CB’s Consumer Confidence and the Richmond Fed index missing expectations, whereas the S&P/Case-Shiller index rose more than initially anticipated.

    US Dollar significant levels

    As of writing the US Dollar Index is up 0.01% at 99.81 with the next resistance at 100.04 (psychological level) followed by 100.38 (2015 high Mar.13). On the other hand, a breach of 98.50 (low Nov.12) would open the door to 96.77 (55-day sma) and finally 94.84 (3-month uptrend).
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