US Dollar Weaker, Unable to Regain 95.00
The greenback, tracked by the US Dollar Index, is snapping a 3-day positive streak today, returning to levels below the 95.00 mark.
US Dollar ignores data, remains offered
The index paid little attention to lower-than-expected US New Home Sales during March, all amidst a generalized selling bias following last week’s upside and swelling cautiousness in light of the FOMC meeting on Wednesday.
USD will remain in the centre of the debate throughout the week however, as Durable Goods Orders, S&P/Case-Shiller index and Conference Board’s consumer sentiment gauge are all due tomorrow as well.
US Dollar relevant levels
The index is losing 0.33% at 94.80 and a breach of 93.62 (2016 low Apr.12) would open the door to 93.16 (monthly low May.15 2015) and finally 92.52 (monthly low Aug.24 2015). On the other hand, the initial hurdle lines up at 95.18 (high Apr.22) followed by 95.51 (38.2% Fibo of 98.59-93.62) and then 95.89 (55-day sma).