US Dollar Surrenders Gains, Near 94.10 ahead of Fed
The greenback, tracked by the US Dollar Index, has faded the earlier bullish attempt towards the 94.30/35, returning the 94.10 area.
US Dollar now looks to Fed
The
index keeps the trade in the area of yearly lows in the vicinity of the
94.00 handle today, extending the pullback for the third consecutive
week against the backdrop of a generalized selling interest surrounding
USD.
Absent releases in the US calendar today, the bulk of the
attention will be on the unexpected Fed closed meeting in order to
discuss Fed fund rates, leaving the greenback in the centre of the
debate later in the NA session.
US Dollar relevant levels
The
index is down 0.12% at 94.12 and a breakdown of 94.01 (2016 low Apr.11)
would expose 93.83 (monthly low Oct.15 2015). On the other hand, the
next hurdle lines up at 95.19 (20-day sma) followed by 96.42 (high
Mar.28) and finally 96.60 (55-day sma).
(Market News Provided by FXstreet)
