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10 Apr 2015
DXY retreats from 99.70
FXStreet (Edinburgh) - The US Dollar Index, which tracks the greenback vs. a basket of its main competitors, is trimming part of its earlier gains and returning to 99.50.
DXY in 3-week highs
The index is prolonging its positive momentum this week, advancing to the area of multi-week tops near 99.70 albeit losing some vigour later. The dollar thus recovers most of the deep pullback post-FOMC meeting on March 18, coming back from the key support at 96.00.
In the data space, US Export prices gained 0.1% on a monthly basis during March while Import prices dropped 0.3% MoM.
DXY relevant levels
The index is now up 0.40% at 99.55 and a break above 99.68 (high Apr.10) would target 99.79 (high Mar.18) and then 100.00 (psychological level). On the downside, the immediate support lines up at 97.25 (low Apr.8) ahead of 96.92 (low Apr.7) and finally 96.33 (low Apr.6).
DXY in 3-week highs
The index is prolonging its positive momentum this week, advancing to the area of multi-week tops near 99.70 albeit losing some vigour later. The dollar thus recovers most of the deep pullback post-FOMC meeting on March 18, coming back from the key support at 96.00.
In the data space, US Export prices gained 0.1% on a monthly basis during March while Import prices dropped 0.3% MoM.
DXY relevant levels
The index is now up 0.40% at 99.55 and a break above 99.68 (high Apr.10) would target 99.79 (high Mar.18) and then 100.00 (psychological level). On the downside, the immediate support lines up at 97.25 (low Apr.8) ahead of 96.92 (low Apr.7) and finally 96.33 (low Apr.6).