US Dollar comes down to test 95.00

The US Dollar Index, which tracks the greenback vs. its main rivals, is accelerating its downside towards the 95.00 neighbourhood.

US Dollar weaker despite positive data

USD is rapidly losing ground today despite April’s Durable Goods Orders have surprised to the upside during April, advancing 3.4% and 0.4% excluding the Transportation sector.

Initial Claims have also followed suit, coming in at 268K during last week, bettering estimates and down from 278K.

The index has intensified its downside in the wake of the releases, currently breaking the critical support at the 95.00 handle and ahead of Pending Home Sales and the speech by FOMC Powell.

US Dollar relevant levels

The index is losing 0.37% at 94.97 and a breakdown of 94.74 (55-day sma) would aim for 94.33 (20-day sma) and then 93.65 (low May 11). On the other hand, the initial up barrier aligns at 95.66 (high May 25) followed by 96.15 (100-day sma) and finally 96.42 (high Mar.28).