27 Jul 2015
USD Index in red near 96.60
FXStreet (Edinburgh) - The greenback, in terms of the USD Index, is sharply lower on Monday, breaking below the 97.00 support amidst an increasing risk-on trade environment.
USD Index eyes on US data
The dollar has started the week on the wrong footing, breaching the critical support at the 97.00 handle and posting fresh multi-day lows at the same time. Ahead in the session, US Durable Goods Orders are due with prior surveys pointing to a strong reversal during June from May’s 2.2% drop.
Further into the week, the FOMC meeting (Wednesday) will prove to be critical for USD aspirations in the short term, while market expectations still keep September’s lift-off on the table.
USD Index relevant levels
As of writing the index is retreating 0.60% at 96.66 with the next support at 96.40 (low Jul.27) ahead of 96.26 (low Jul.14) and then 95.63 (low Jul.13). On the upside, a breakout of 97.62 (high Jul.24) would aim for 98.46 (high Apr.21) and finally 99.36 (high Apr.15).
USD Index eyes on US data
The dollar has started the week on the wrong footing, breaching the critical support at the 97.00 handle and posting fresh multi-day lows at the same time. Ahead in the session, US Durable Goods Orders are due with prior surveys pointing to a strong reversal during June from May’s 2.2% drop.
Further into the week, the FOMC meeting (Wednesday) will prove to be critical for USD aspirations in the short term, while market expectations still keep September’s lift-off on the table.
USD Index relevant levels
As of writing the index is retreating 0.60% at 96.66 with the next support at 96.40 (low Jul.27) ahead of 96.26 (low Jul.14) and then 95.63 (low Jul.13). On the upside, a breakout of 97.62 (high Jul.24) would aim for 98.46 (high Apr.21) and finally 99.36 (high Apr.15).