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20 Apr 2015
DXY testing highs near 98.00
FXStreet (Edinburgh) - The greenback, tracked by the US Dollar Index, has started the week on the right footing, currently hovering near the 98.00 handle.
DXY trimming losses
The dollar is currently snapping a negative streak of four sessions, managing to rebound from the boundaries of the key support at 97.00 posted last week to the vicinity of the 98.00 mark.
The resurgence of Greek jitters remains the main driver of the risk-off sentiment on Monday, against a backdrop of scarce data in the US economy.
DXY relevant levels
The index is now advancing 0.35% at 97.86 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).
DXY trimming losses
The dollar is currently snapping a negative streak of four sessions, managing to rebound from the boundaries of the key support at 97.00 posted last week to the vicinity of the 98.00 mark.
The resurgence of Greek jitters remains the main driver of the risk-off sentiment on Monday, against a backdrop of scarce data in the US economy.
DXY relevant levels
The index is now advancing 0.35% at 97.86 with the next hurdle at 98.66 (high Mar.31) ahead of 99.18 (high Apr.9) and then 99.36 (high Apr.15). On the other hand, a breakdown of 97.00 (low Apr.17) would target 96.93 (low Apr.7) en route to 96.33 (low Apr.6).