US Dollar Near 94.50, Off Highs Post-US Data
The greenback, tracked by the US Dollar Index, has lost some momentum following the release of US data, leaving behind session highs near 94.70.
US Dollar a tad softer on US releases
The
index keeps the buoyant tone today, advancing for the second
consecutive session in spite of US Retail Sales and Producer Prices have
come in below expectations during March.
Headline Sales have
contracted 0.3% inter-month and producer prices dropped 0.1% MoM, both
missing previous estimates and in turn alleviating some upside pressure
around USD.
US Dollar relevant levels
The
index is advancing 0.62% at 94.55 with the next hurdle at 94.95 (20-day
sma) followed by 95.51 (38.2% Fibo of 98.59-93.62) and finally 96.42
(high Mar.28). On the other hand, a break below 93.62 (2016 low Apr.12)
would target 92.52 (monthly low Aug.24 2015) en route to 91.50 (low
Jan.15 2015).
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