US Dollar approaches 93.00 ahead of ADP

The US Dollar Index – which tracks the buck vs. its main rivals – is struggling for direction on Wednesday albeit closer to the key up barrier at 93.00 the figure.

US Dollar attention to ADP

The index is looking to extend the rebound from Monday’s fresh cycle low in the vicinity of 92.60, as jitters over the US political scenario appears somewhat alleviated today.

In fact, market participants seem to have already digested the latest scandal at the White House involving ex Communications Director A.Scaramucci, although the effervescence stemming from the Russia-gate remains a constant source of uncertainty for the greenback.

Later in the NA session, USD should stay in centre stage in light of the publication of the ADP report, where consensus looks for the US private sector to add 185K jobs in July ahead of the more significant non-farm payrolls expected on Friday.

US Dollar relevant levels

The index is losing 0.04% at 92.88 facing the immediate support at 92.64 (2017 low Jul.31) seconded by 92.52 (low Aug.24 2015) and finally 91.88 (2016 low May 3). On the other hand, a breakout of 93.44 (10-day sma) would aim for 94.11 (high Jul.26) and then 94.42 (21-day sma).